Failure to Lend

Failure to Lend - http://bizbox.slate.com Avatar Posted by BizBox under News
From http://bizbox.slate.com 4536 days ago
Made Hot by: DebMark on August 22, 2009 12:46 pm
BizBox's Anonymous Banker explains how the federal government's small-business lending program has utterly failed, and which banks are to blame.





Comments


Written by DebMark
4533 days ago

The article makes one good point (not many ARC loans made) but undermines it with a silly point (banks are to blame). This was a stupid program to begin with, because banks could not charge any interest for ARC loans. Banks are profit-making institutions. They aren't going to make a loan if they don't make money on it. The fault lies squarely with the SBA. They screwed up, big time. If you were a bank shareholder you'd be calling for the head of the execs if they lost money by making idiotic interest-free loans. Sheesh! Dumb Obama bureaucrats.



Written by deniseoberry
4535 days ago

Sadly, there is no bending the rules when it comes to these government loans. Excellent, but sad, story -- good read.



Written by ShawnHessinger
4535 days ago

I really wish this was a surprise. But, of course, as I and I'm sure others in the small business community have said before, we're on our own.



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