Banks Licking their Wounds and Being More Patient

One interesting trend I'm noticing is that at the front end of the downturn, banks were very quick to shut down printers who were in financial distress and had violated financial covenants in their loan agreements. Today, some banks are actually being a little more patient because they realize that if they foreclose on their liens there may be even less realizable value to them. For example, the used equipment market is a disaster and selling used equipment isn't going to get a bank any meaningful recovery.