Brazil pressing banks to lower loan rates by 30% and increase lending

Monday, May 28th 2012 - 17:10 UTC

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Brazilian banks must lower their lending rates by between 30% and 40%, and increase lending, without raising fees, to help spur economic growth, Finance Minister Guido Mantega said in an interview with the Folha de Sao Paulo newspaper. Read full article

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ChrisR
This is where the crash started in the USA with Obarmy (as a Senator) driving a bill through the system MAKING it mandatory that lower income people could get housing, via unserviceable loans, etc.

We all know what that led to.

This is just one step away and will inevitably lead to more loan delinquency and guess what Finance Minister Guido Mantega said : “Rules currently don't favour repayment of overdue loans, he acknowledged.”

If Brasil keep messing with the market, Mr. Market will eventually turn round and bite them. He always does.
May 28th, 2012 - 08:38 pm - Link - Report abuse +1
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