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4/10/2009
Who does Rep. Kagen think We (or He) is?
An article in the Post-Crescent yesterday featured several small business owners having a tough time getting even small loans to start or expand their businesses.
In response to the distress of his constituents, the article quoted Rep. Kagen as saying:
It's not that the banks have lost confidence in those seeking loans, said U.S. Rep. Steve Kagen, D-Appleton, who believes that the drop in activity is a reflection of the economy's current state.
"When we find the floor in housing and we get small businesses going and employing people and when we finally convince this administration's treasury that a home has less value and maybe we should pay less interest rates, we can begin to have an economy again," he said. [Emphases are mine.] Here’s what I want to know – who does Dr. Kagen think "We" is? The almighty government? The almighty Congress? Maybe he means the free markets in America, but I doubt it. If anyone out there has an extra copy of F.A. Hayek’s Road to Serfdom, you may want to send it to the good congressman.
FP News has included articles on the supposed ‘easing of credit’ for small business – “Obama acts to aid small businesses.” That was March 16 – and was followed up two weeks later with the reality. April 1, from the Washington Post: “New, improved SBA loans won’t work.” The article does a great job explaining why.
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 [every major provider of small business loans] say[s] they will not participate. Imagine that.
Jo Egelhoff. FoxPolitics.net
COMMENTS
And American farmers are well on their way to becoming serfs; see my comments on the "conservatives" blog.
emily matthews (Fri Apr 10 09:23:04 2009)
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