Financial Times FT.com

Obama will tell state-aid banks to lend more

By Krishna Guha in Washington and Francesco Guerrera in,New York

Published: January 19 2009 02:00 | Last updated: January 19 2009 02:00

President-elect Barack Obama will demand that banks receiving public support step up lending, top advisers said yesterday, as they promised to make restoring the flow of credit a top priority for the new US administration.

"I think he is going to have a strong message for the bankers," David Axelrod, a senior Obama strategist told ABC's This Week. "We want to see credit flowing again. We don't want them to sit on any money that they get from taxpayers."

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