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Everyone wants the banks to lend more — even the nation’s chief executive. But absent a supermajority in Congress (it takes 60 votes to get major legislation passed in the Senate), what can one do to get the banks to lend?
Like President Obama, one can request, make a strong it’s-in-the-interest-of-the-banks case for increased lending, but at the end of the day, given the U.S.’s economic system, it’s still a private sector matter and the bankers’ call.