Posted by George Cloutier on 12/18/09 | (8) Comments
Extending the current failed program of guarantees & fee reductions for small biz still means that the lending program remains 30%-40% behind the Bush Administration, which many think tried to kill the SBA anyway. Maybe we should cut the salaries & benefits in half of Congress, the Senate, and the Treasury Department and Small Business Advisors to the President until we get a real program that helps the nation’s 29 million small businesses. We bet they wouldn’t be leaving for break if that occurred.
Posted by George Cloutier on 12/14/09 | (19) Comments
BOA steps up gingerly for small biz. Thank you. So when are Obama, Geithner & Congress going to do something more than empty rhetoric? 5 bil in direct loans by BOA is $5 bil more than Obama, Geithner and the do-nothing Congress are doing for small biz.
Posted by Admin on 12/14/09 | (0) Comments
In 2008 Candidate Obama promised to help small business.
“MAIN STREET NEEDS RELIEF AND YOU NEED IT NOW.”- Candidate Obama, October 10, 2008
As I said in a recent WSJ article, small businesses need help this month and they needed help last month. The response from the Administration and Congress has been pathetic. Congress and the Administration have actually managed to reduce loan value dramatically in the face of the worst recession this nation has seen since the 1930’s.
The SBA has guaranteed a paltry 50,000 loans to the nation’s 29 million small businesses – that’s .0017; loan volume is down 36% than under the Bush Administration.
In the summer, the White House promised new progress “in the fall”. Fall has passed and now the President and Congress are promising new programs next year. If they wait two or three more years when the recession is over, they can claim victory. If they wait any longer hundreds of thousands of small businesses will cease operations.
SO WHERE’S THE BEEF?
Posted by Admin on 12/02/09 | (3) Comments
Be sure to check out my guest blog post on CNBC’s Bullish on Books blog.