I was encouraged by the conversation between journalist Fareed Zakaria and Jamie Diamond, head of J.P. Morgan this morning on GPS.
Jamie said that although there are fewer big banks today, those which are left have lent more to corporations and mid-size business this year than previously. He said a lot of business has cash and doesn’t need it. The effort now should be to get them to spend it,
albeit wisely and get people back to work. He praised governments all over the world for having implemented programs which stopped the damage from getting even worse.
I realize this has not yet come to the consumer level. But what is wrong with having to have at least 20% down for a morgtage, and a stable credit history? Lenders cannot lend to those who have no stake in the home for which they are trying to purchase.
The country and people individually should begin to make more practical decisions again about when to buy, sell, retire, or go into business for themselves. When this happens, they will also want advisors in technology, purchasing, capital and financial investments who know what they are talking about. They will also want that in their insurance advisor. Whether discussing business overhead policies, replacement cost on property or COBRA and state continuation of benefits. They will want the quality they themselves are trying to deliver to their own clients.
When you want an experienced, qualified, thoughtful and thorough insurance advisor, let me know. I’ll be over here when you need me.
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