Banks Not Lending

From today's Washington Post: "Mortgage Market Bound by Major U.S. Role"

"Absent government intervention, there would be no lending," said Nicolas P. Retsinas, director of Harvard University's center for housing studies."

Although I am not advocating irresponsible lending, I find it unbelievable that banks--which have received billions in dollars in bailouts--are not lending to consumers. There is something terribly wrong here....