January 28, 2010
In last night’s State of the Union address, President Obama commented that “even though banks on Wall Street are lending again, they’re mostly lending to bigger companies. Financing remains difficult for small-business owners across the country, even though they’re making a profit.”
He then offered some of our tax dollars to help: “So tonight, I’m proposing that we take $30 billion of the money Wall Street banks have repaid and use it to help community banks give small businesses the credit they need to stay afloat.”
The irony is that our government helped create this problem in the first place, both Republicans and Democrats. Continue Reading...