Credit a little less frozen for the right customers, plus TARP in action
Pfizer lines up biggest bank deal since March, tapping U.S. aid – MarketWatch
The article sums up the importance of this deal pretty well, but it’s nice to see that the paranoia about liquidity is a bit less intense for the right customer (though no, you and I are not the “right” customer just yet), and that TARP has had a positive impact for at least some lenders. After all, when that paranoia is at the point where even the commercial paper market is compromised, how can one start thinking about lending for purposes of buying out other companies?
The whole TARP thing is even more intriguing since many banks rejected for fear that customers would lose confidence in a bank if it accepted this “bailout” aid.