Banks tighten lending

So now that it entirely obvious to the whole world that the banks have tightened lending standards, the Fed comes out and tells us that banks have "reported having tightened their lending policies on all major loan categories over the previous three months stayed very elevated." The Fed also said that "roughly 45 percent of banks raised the minimum-required credit scores on credit card accounts and other consumer loans."
http://finance.yahoo.com/news/Fed-Banks-still-tightening-apf-14225972.html

So much for the "bully pulpit" and "moral suasion" of the Fed. It looks like the only one that the Fed can cajole into doing any lending is the Fed itself. And that's because they are taking your money, to give it to the banks, so they won't lend you any!