Small Business Bailout Considered By Obama Admin.

washingtonpost.com:

The Obama administration is developing an initiative to take money from the $700 billion program for the banking system and make it available to millions of small businesses, which officials say are essential to any economic recovery because they employ so many people, according to sources familiar with the plan.

Read the whole story: washingtonpost.com

Comments

[sc300nc]

Sounds a lot like what the Republicans have been saying for months. Why has it taken this long?

[fcsakes]

Right. The banks, who were supposedly going to get this country moving again with OUR billions in loans, reneged and made themselves filthy rich, including bonuses. So now we're supposed to pay directly to small businesses ourselves, which is what we should have done in the first place. Good thinking Geithner.

When does Main Street get help? Maybe after small businesses have finished installing gold fixtures in their bathrooms, after all, they have the "banks that are too big to fail" as examples of what to do with the taxpayer's money.

I'm not going to make it through the winter here - won't be able to afford the fuel after being squeezed everywhere from the gas pump to the grocery store for the last three years. Of course it only gets down to about 15 degrees for eight months, maybe I should just wear additional sweaters. Oh yeah, I'm supposed to "be patient" and give the stimulus time to act. It's already "acted." See Goldman Sachs and the rest of the corrupt "banks that are too big to fail."

[WhatDaBleep]

I thought this is why we bailed out the banks so that they provide the small business loans?

[RTIII]

Absolutely right - it was exactly the most critical reason cited.
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[themodernleader]

Loaning money as a solution is the banker's way. But the problem is demand. The problem of stimulating demand through getting money in working people's pockets is the way to go. That means putting people back to work that grows competence and confidence. Loaning money to declining enterprises without stimulating demand is a risky business.

[skymuffin]

I agree with everyone who says, enough talk, let's form a committee...just do it.

People make such a big deal about all of the so-called experts in this administration with fancy degrees from expensive universities. But a lot of us without Ivy League educations could have told you to help small business owners. This is just occurring to them? Why don't you hire some state university graduates with commonsense, you bunch of out-of-touch snobs?

[dukeitout]

The TAARP money was authorized for specific purposes, which did not include subsidies to small businesses. What ever happened to the idea of buying troubled assets (really devalued mortgages) from all those mis-managed big banks that loaned all that money to all those irresponsible people to buy homes. If the government can't identify the troubled assets, and the banks won't identify the troubled assets, maybe the government should assume there aren't any. To spend money simply because you can get it from the taxpayers is irresponsible. It is also stupid to run up the countries' debt unless it's necessary. How about revising the authorized TAARP figure from the amount authorized ($700 B) downward to a more realistic figure far below the 700 number? Jez munez, do those guys always have to spend every last penny authorized? That Washington crowd is in another world.

[Eli Davidson - Huffpost Blogger]

As a business coach to numerous small business owners, I am confident that investing in small business is by far the very best way for us as a nation to reinvent our economy. The story of taking a $17 investment and turning it into a $1.5 million company in four years is one that I have the honor of sharing frequently.

[Earvolution]

Should have been one of the first things they did. And, when they do it, from a political standpoint, they should do a major red carpet roll out and both visit some small businesses in key states and host a few actual small business people at the White House. Push it to every news outlet hard. Obama team may not realize that perceptual "ownership" of the economy is on them with a small but solid majority of the public.

[rollingdivision]

Permanently cut taxes and decrease regulation.

[jsgaetano]

That's already been tried, and all it got America was a Second Great Depression.

[twistedknickers]

No thanks.

[SamKnause]

You are kidding, right? If not, I guess you have been in a comma. De-regulation caused this mess. Cutting taxes for the wealthy caused this mess. You really were kidding, got it.

[mountainweb]

Since Small Business creates the most jobs, DO ITand put tax on companies that move jobs overseas. Every outsourced job is a job loss PLUS the taxes from that job. I work for a company that moves critical path jobs overseas (order processing is one example) and the loss of revenue from screwed up orders is staggering.

[paulbikes]

Don't say it, do it. I can't even explain what $50,000 would do for my startup, 100k would give me a heart attack.

We're aiming to be a manufacturing company based around our high-end, soft and hard goods for the cycling industry, and we want to diversify into other markets that have room for smaller manufacturers specializing in custom work. We do everything ourselves, in-house, and want to create a stable and sustainable business for ourselves and in the future our employees.

There's a million other small business's doing the right thing, i think that's just as important as the banks or the auto industry. It's obvious they need protection despite their actions, but there's countless small businesses that could make things happen with so much less.

[noneIn2008]

You bet. We know that those with the best lobbyist win.

[sc92705]

Lip service.

[sueinmn]

Hopefully they will implement it better than the "make home affordable". That really worked out well.

[japrz]

I have been saying for years that every (and I mean every) US job could be sent to China and the Chinese would still have massive unemployment. There are 2 billion Chinese and about 300 million Americans. These politicians have been sending our US jobs to China since Ronald Reagan took office back in 1980. We are seeing statements from our US Representatives like:"I was just wondering, where do you think your plan went wrong?" asked Rep. Bill Posey, R-Fla.” Gee, I wonder if our high unemployment here in US is due to these S/O/Bs sending our jobs to a communist country to make a fast buck? I am sick and tired of hearing … but US workers don’t want jobs manufacturing shoes. First, shoes are not made by hand they are made with automated machines. Second, I guaranty, if you asked an unemployed person if he would like to be trained to fix machines or keep machines working to manufacturing shoes. They would say if the pay was reasonable they would do it. And, this goes for manufacturing anything else. We have automation. We don’t have to make things by hand. Good jobs could be had maintaining the machines. Bring manufacturing back to the US. Give us our jobs back! Place super tariffs on imports.

[sueinmn]

Shoes are made by hand! Right here where I live. Not much automation there. Yes maintaining these machines whether old or robotic are still good jobs. This shoe factory buys much from China today to make the big profits! They make huge profits. Now here they are hiring all south of the border and many are illegals. ICE will not investigate! RW Shoe. We need our jobs back for sure! We have a generation that prefers to work in flip flops than really work. We have a genneration that prefers titles to pay. Where did we parents goes wrong teaching our kids videos games are better entertainment than actual physical play. We have become a lazy, throw away society!

[noneIn2008]

Just wait for cap and trade to hit. Time to learn Mandarin.