Loan standards are tightening at a slower rate than previously, the Fed’s senior loan officer survey finds. Demand is weakening from both business and households, the survey showed.
In other banking related news, Chris Dodd, the chairman of the Senate Banking committee is releasing the details of his two mortgages with Countrywide Credit, his personal credit crisis. Dodd was flagged last summer as a “friend of Angelo” Mozilo, the former Countrywide CEO, who arranged preferential loans for powerful people who could help the bank. Dodd has hired a third part to replace the loans, he says. Maybe Tom Daschle can give him a lift to closing…
