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3/31/2009
Imagine that. A federal program that won't work
This is disappointing. Frustrating. Propaganda at its worst. A big come-on, then nothing, nada, except... Obama, the hero. Dang it.
On the day of the unveiling [of a new program to aid small business], Obama said: "We will immediately unfreeze the secondary market for SBA loans and increase the liquidity of community banks." Well.
Two weeks after President Obama announced a $15 billion initiative to spark lending for small businesses, every major provider of these kinds of loans says the plan will not work as designed.
The conditions attached to the program, which require these financial firms to surrender ownership stakes to the government and limit executive pay, are so off-putting that these companies say they will not participate.
Industry officials and congressional sources said these issues were raised with the administration before the small-business initiative was unveiled. Nonetheless, administration officials accelerated the announcement, moving quickly to show they were using financial rescue funds to aid not only big Wall Street firms but Main Street businesses as well, sources familiar with the matter said. Geez. Give me a break.
Jo Egelhoff, FoxPolitics.net
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| 2009 |
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• The Lawton-Bader files
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• Is Rep. Nelson a political hack?
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• The trouble with health care is paying for it
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• TODAY - hearing on Campaign Finance Reform
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• Important votes Tuesday, including Appleton Common Council
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• State programs to cut? - Volume II
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• Make cuts only AFTER you're elected....
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• I'm doing the Jerry Bader Show, today, the 11th
• Representative Frank Lasee: Final Waltz of the Season
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• Lots of ideas. No money.
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• The PAC - too precious to fail. Day 3
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• AASD Retirement Costs Burdensome
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