WHICH IS WHY THE GOP HAS TO TAKE "RESPONSIBILITY" FOR THE ECONOMY:

Banks Loosen Purse Strings (RUTH SIMON, 1/15/11, WSJ)

The New York bank's profit surge and optimism that more consumers and businesses are looking for loans triggered a rally Friday in financial stocks. That helped push the Dow Jones Industrial Average to its highest level since June 2008. The Dow, which includes J.P. Morgan shares, rose 55.48 points, or 0.47%, to 11787.28, finishing the week up nearly 1%. It was the bellwether average's seventh weekly gain in a row, during which it has gained 6%.

Signs of a lending rebound in business loans already were evident at some big U.S. banks, and Mr. Dimon cited "fairly broad-based strength across corporate, middle market, even small business." But consumer lending has lagged behind because of unemployment, foreclosures and the reluctance of many Americans to go deeper into debt.

Now, the economy is gaining momentum, as shown by the Commerce Department's report Friday that consumers spent more for the sixth straight month. That means profit-hungry bankers are growing more eager to make new loans, especially to borrowers with strong credit histories.