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Banks
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can manage the losses they have. Leake also said they have had only one property foreclosure and that it was a spec house by a contractor in F^ront Royal and not a typical homeowner borrower.
Over in Fauquier. RahdjP Ferrell — president and CEO of The Fauquier Bank (TFB) — said he believes some action must be taken by the government.
“The problem with the industry."* he said, “is that larger hanks are holding onto money. They "re not lending it to other banks as they have in the past, and that makes it harder for large corporations and companies who depend on it."*
And as Leake - as well as several economists - noted, the problem is not credit, but liquidity In plain English, that's cold, hard cash. “What the Fed and the Treasury are doing."* continued Ferrell, “is trying to pour money into the economy to unfreeze it."*
Leake, however, says that their position vis-a-vis deposits is actually improving. They still have a Lot of cash and are still actively seeking loans. If there is a slowing in loan growth, said Leake, it is the result of liquidity or the ease with
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