Business Services Industry
Credit Squeeze Bypasses St. Louis Bankers, Borrowers.
Knight Ridder/Tribune Business News, October, 1998 by Gallagher, Jim
Knight Ridder/Tribune Business News
Oct. 25--Credit crunch? What credit crunch?
That's the feeling among bankers and business borrowers in St. Louis.
Turmoil in the bond market has delayed borrowings by some large companies, and sent alarm bells ringing at the Federal Reserve.
The Fed has cut rates twice in the past month, in large part to nip an incipient credit squeeze before it becomes a real crunch.
But bankers in St. Louis say they're lending as freely as ever to both businesses and consumers. Businesses say they're getting loans.
Developers are building homes. Tenants are leasing new office space before the walls are up.
"It hasn't stopped any activity as far as I've seen," said Crosby Kemper III,...
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