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.
George,
As much as it is hurting small business (lack of capital/credit) it is the abundance of cheap money and credit—not to mention malinvestment via consumers & business—that caused a $600Billion overnight run on the money market funds in 08’, which almost took down the financial system.
We need to de-lever, continue to de-lever, let the co’s that are going bankrupt go bankrupt (with cause) and let the healthy companies pick up the marketshare.
Based on the credit collapse of 08’, I have always felt some short term pain (deep recession/short depression) would be better than another credit collapse in 2013.
Because the next collapse (bite my tongue) will not be a credit collapse, it will be a dollar collapse.
Let’s avoid it—and we can.
Thats my 3 and 1/2 cents (for what it’s still worth).
Cheers!
Robert Polonsky
http://www.Sales1Boston.com
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