Banks that need loans but won’t make them

Gretchen morgenson (the great cynical replacement for my favorite curmudgeonly nytimes reporter) writes today about big banks taking billions in assistance that are still tightening credit – ie. Refusing new loans and tightening terms on existing.
The worst case is bank america which took in $15 billion and then invested $7 billion in a chinese bank while refusing loans at home because it says there's a recession and its tough to find 'good loans' to make.
My favorite part…robert strickler, a spokesman, had the nerve to say that none of the TARP money was used in the investment! Who's the bigger idiot?
A. The govt for lending money to these banks, B. Us for watching quietly, or C. Mr strickler for working in a bank and trying to imply that one pot of money is different from another.

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