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The Feds have spent trillions on bailing out banks and financial institutions. The winners? The banks and special interests, the small guy is the BIG LOSER!
"Bank lending to California small businesses dropped by 70 percent between 2007 and 2009, according to a report released this week by the nonprofit California Reinvestment Coalition.
The report used publicly available data from the Federal Reserve and the U.S. Small Business Administration to show, in detail, the level of credit available to small firms in six California counties, including Alameda and Santa Clara.
“Seems to me that you have some responsibility when the taxpayers give you $700 billion to bail you out,” said Alan Fisher, the report’s author.
“We supported the banks in their time of need, and they’ve drawn further back from small businesses anyway,” he said.
In Alameda County, overall lending to small businesses fell 68 percent, from 40,254 loans in 2007 to 12,852 loans in 2009.
In Santa Clara County, small business lending dropped 67 percent, from 49,891 loans in 2007 to 16,479 loans in 2009."
Government is a friend of the big guys, at the expense of real people. This is just another example that the formerly mainstream, media forgets to tell us about!
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"Bank lending to California small businesses dropped by 70 percent between 2007 and 2009, according to a report released this week by the nonprofit California Reinvestment Coalition.
The report used publicly available data from the Federal Reserve and the U.S. Small Business Administration to show, in detail, the level of credit available to small firms in six California counties, including Alameda and Santa Clara.
“Seems to me that you have some responsibility when the taxpayers give you $700 billion to bail you out,” said Alan Fisher, the report’s author.
“We supported the banks in their time of need, and they’ve drawn further back from small businesses anyway,” he said.
In Alameda County, overall lending to small businesses fell 68 percent, from 40,254 loans in 2007 to 12,852 loans in 2009.
In Santa Clara County, small business lending dropped 67 percent, from 49,891 loans in 2007 to 16,479 loans in 2009."
Government is a friend of the big guys, at the expense of real people. This is just another example that the formerly mainstream, media forgets to tell us about!
More...