President Obama : Banks Must Help Business Owners

Obama : On Why Banks Must Help Business Owners investor.cash2gold.com – Social Network for Business Owners & Investors This was evidently small business week at the White House. (And National Small Business Week actually takes place in May.) In addition to the announcement directed at lending on Wednesday (extensively covered here and here), President Obama visited a landscaping company in Connecticut with Sen. Christopher Dodd, the Democrat who happens to be in a tight race for re-election. And the presidents weekend video address honors small companies and their contributions to the economy. More importantly, he criticized large banks for taking stimulus money and then failing to lend it to small customers. Those entrepreneurs are the very taxpayers who stood by Americas banks in a crisis — and now its time for our banks to stand by creditworthy small businesses, and make the loans they need to open their doors, grow their operations, and create new jobs. Its time for those banks to fulfill their responsibility to help ensure a wider recovery, a more secure system, and more broadly shared prosperity. And were going to take every appropriate step to encourage them to meet those responsibilities. Because if its one thing weve learned, its that here in America, we rise and fall together. This seems to be part of a larger argument the president is framing against Big Finance. Earlier this week, after a House Committee voted to create a financial services consumer protection agency, the president said that those companies and their lobbyists are doing what they always do — descending on Congress, using every bit of influence they have to maintain the status quo that has maximized their profits at the expense of American consumers, despite the fact that recently those same American consumers bailed them out as a consequence of the bad decisions that they made. You can listen to the presidents remarks here, and watch the video here. http