Argentine president forces leading banks to lend

Argentina's President Cristina Fernandez, center, delivers a speech at the Mercosur summit in Mendoza, Argentina, Friday, June 29, 2012. Fernandez announced that the Mercosur trade bloc will not slap economic sanctions on Paraguay after the ousting of its president because they felt it would hurt the Paraguayan people. Mercosur leaders criticized the impeachment and barred President Fernando Lugo's replacement, former Vice President Federico Franco, from attending the summit. (AP Photo/Natacha Pisarenko)Facing clear signs of a looming recession, Argentina's president is ordering the country's biggest banks to lend $3.3 billion of their clients' savings at rates below what many believe to be the inflation rate.