US credit shrinks at Great Depression rate prompting fears of double-dip recession

"There has been nothing like this in the USA since the 1930s. The rapid destruction of money balances is madness." US bank loans have fallen at an annual pace of almost 14% in the 3 months to August 09 (from $7,147bn to $6,886bn).. For the first time in the post- World War II era, we have deflation in credit, wages and rents and this is a toxic brew.It is unclear why the US Federal Reserve has allowed this to occur.

US credit shrinks at Great Depression rate prompting fears of double-dip recession - Telegraph

Banks that didn't take governemnt bailout TARP are in better shape than peers

Banks that didn't take government bailout billions - take your money there. No to AIG, Citi or Bank of America.

http://BailoutSleuth.com,

54 public banks refused gov bailout TARP money.

AIG became a ward of the state.

People now own a third of Citigroup.

Bank of America received $45 billion in funding.

BANK WITH Hudson City Bancorp (HCBK),

People' United Financial (PBCT)

Commerce Bancshares (CBSH),

BOK Financial (BOKF) and

NY Community Bancorp (NYB)

Shares of the 54 banks that didn't want a bailout are, on average, down just 16% since last September. That's compared to a 30% drop for the KBW Bank Index and 36% plunge for the S&P Regional Bank Index..

Banks that didn't take TARP are in better shape than peers - Sep. 11, 2009