Appeared on October 11, 2008
Dean of the LeBow College of Business at Drexel, Doctor George Tsetsekos says leaders at the G7 meeting need action not words to unfreeze the credit markets.He says it’s not that banks and lenders don’t have the resources, but more that they’re afraid of getting burnt:“Because they don’t know who is on the other end and has the capability to pay back the loans or the credit lines or even the commercial paper, and that’s why the government introduced or became – for the first time ever – the dealer or the intermediary.”