A consumer economy can only thrive if there is ready availability of credit (by lenders willing to shoulder risk) to consumers able to repay those obligations. At this moment, Main Street is dealing with the evaporation of both risk tolerance and access to credit as consumers face onerous long-term economic challenges and obligations.
The failures of giant financial firms are not over and the impact of this economic debacle will fall hardest on already-beleaguered American households.
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