Obama is working his way to do to the 'little' banks what he has done to the larger banks. It is all in the control...regulations to name one. How much time and energy is it to go for a small business loan?
Besides, if you can borrow the money will that make the demand for your service or product be right around the loan payment?
Tuesday, February 2, 2010
Obama To Announce $30B Small Business Lending Program - Sources
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Thirty Billion is a spit in the ocean. Obama still $512billion in unspent TARP money. Why spend more? BTW, I friends to a number of folks in the banking industry and small onesy-twosy banks at that. They don't want anything to do with the feds. They won't accept fed money. The banks in trouble are the ones who did accept fed money and the worthless assurance from Fannie Mae and Freddie Mac.
ReplyDeleteThe small banks and even larger regional banks are doing quite well without further federal interference.
What galls me is that he is using $30 Billion of the TARP money for this, like his own personal piggy bank.
ReplyDeletePut that dough back into servicing the debt.