Regulators are to blame for a lack of credit being extended to middle market companies, David Nelsen, CEO of Nelsen Steel Company, told CNBC Friday.
Nelsen, who is also on the board at American Chartered Bank, said that despite complaints from regulators that banks aren't lending enough, one of the reasons for the holdup are the machinations of Washington itself.
Another reason is that regulators are concerned about the credit quality of small and midsize companies. Nelsen made the comments during the annual meeting of the Young President's Organization (YPO).