This article is from a journalist named Ambrose Evans-Pritchard of the UK Telegraph, whose articles, I am seeing, are well worth reading. His stories contradict the "economic recovery" BS that is coming out of American mainstream media. This article covers how bank lending is contracting at the fastest rate in recorded history. I am continously fascinated at the fallout from the 2008 financial crisis that is continuing to makes its ramficiations felt for all, despite freely admitting that I am far from an economist and at times can't totally follow what I am reading.
The comments are well worth reading, too. While the common perception among many people is that the banks do not want to lend, and that is at least partly true, I also think that it's due to people lacking the desire and the will to take out more loans (also known as "debt"). As our current and future generations see what happened to those who took on too much debt and later losing the means to pay that debt back, we are becoming more prudent and careful on where we make our long-term investments. The Federal Reserve probably withdrew the stimulus because no one wanted to borrow it. What's left of the middle class is resigned to the fact that the credit bubble can't re-inflate itself in a stable, constructive way.