Obama says banks should lend more to small businesses: Please God, no

This is e new one,now it is the fault of the little guy who wanted a little bit more for himself and his family.If the goverment at the time would paid every single morgage of or brought it up to date we would have spend a lot less money as we did and the banks still would be in trouble.It is time to look at the people who made money in the past and who making money today more than all the little guys ever made.

What is needed to make new jobs and to alleviate the poor economy is not to urge banks to make loans just for the sake of making loans, but tax relief. History proves that if taxes are lowered, small businesses will begin hiring and the economy will get kick started. Obama is too narrow minded to even consider this, even after he promised he would listen to a wide range of ideas from a variety of sources.

I agree with obama. The banks should lend to small business and give them the chances the big buisness have. Now these days the big business are laying off and the small business are paralized with no funds to grow or market their services to the public. This is the right thing our country needs is to grow our local small buisness to add more employees to their companies. If we do not their is no hope for financial growth and wallstreet and banks will take over everthing and all will be lost to their greed. In the end, we small business owners and employees will be homeless. So support this for your own good and survival.

There are laws of finance, and laws of physics and they don't change with the whim of the American President and Congress. The recent crash was directly caused by Congress not understanding that. The Fed has, since March, created enough money to reflate the stock market but what they wanted to do was reinflate real estate. When the Fed stops pumping money, watch out! Warren Buffet said, "Until the tide goes out, you don't know who's been swimming naked."

Really!!!!! The Banks are so corrupt!!!! I am a small business owner, I had great cedit and got slammed by a phone scam. The Banks SUCK!!! Criminals, corrupt, the mafia in suits.

MPH....I agree with you


http://www.craigspr.org

Mr. Bissonnette is correct. You should not give loans to those who are likely to fail. Mr. Obama's idea of giving loans for the sake of giving loans is a failure waiting to happen. I can not believe an adult man does not understand that.

IJ70, YOU ARE INCORRECT OBAMA SAYS CREDIT WORTHY , YES I HAVE VACANT COMMERCIAL PROPERTYS THAT HAVE CREDITWORTHY PEOPLE THAT CAN,T START BUISNESS BECAUSE THEY CAN'T GET LOANS TO START. I TRIED TO GET A COMMERCIAL LOAN LAST JAN AND THE BANK INFORMED ME THAT THEY STOPED MAKING COMMERCIAL LOANS (CITIZENS BANK CT)FOR AND EVERY OTHER BANK WANTED HIGH INTEREST RATES . SO PLEASE OBAMA PUT PRESSURE ON BANKS TO MAKE LOANS TO CREDITWORTHY PEOPLE AGAIN. NO NEW BUISNESS NO NEW JOBS THIS DEPRESSION WILL CONTINUE. GIVING EVERYBODY NEW CARS ISN'T GOING TO DO IT

With respect to mortgages, George Bush asked his buddies in the mortgage industry to do him a favor and figure out a way that unqualified prospective buyers could qualify for a loan. They came up with exotic subprime. The government did not make them do that. The President asked them to do it, and, for some inexplicable reason, they liked the guy so they did it.

In Obama's case he 's saying he wants banks to lend to creditworthy small businesses. He's not asking them to qualify deadbeats for no-money-down interest only, teaser-rate jumbos.

Simply a huge difference.

Mr.Bissonass: You sir, are an idiot........

Obama says banks should "stand by creditworthy small business," I think this is a reasonable request. I think he does not want the banks to use it to gamble on the stock market or use it for some other purpose for which it was not intended. For instance they could loan it to loan sharks because the returns would be better. Just my thoughts.

"JCH said...
With respect to mortgages, George Bush asked his buddies in the mortgage industry to do him a favor and figure out a way that unqualified prospective buyers could qualify for a loan. They came up with exotic subprime. The government did not make them do that. The President asked them to do it, and, for some inexplicable reason, they liked the guy so they did it.

In Obama's case he 's saying he wants banks to lend to creditworthy small businesses. He's not asking them to qualify deadbeats for no-money-down interest only, teaser-rate jumbos.

Simply a huge difference."

Bush had nothing to do with all the faulty loans. Think Carter, Clinton, Obama, and Mr. Obama has pushed for these loans as hard as any of these liberal presidents. The democratic congress refused to pass regulation when several people, including Bush asked for it, If the democratic congress would have passed requested legislation, it would have stopped the mortgage defaults but refused to and in fact, then pushed for even riskier loans. Obama even took one bank for court for what was considered red lining because it refused to give a loan to someone who could not afford one. This was not the banks, as stated above, it was a group of politicians who would be well advised not to mess with the loan process for anyone (for their own political agenda).

I'd sooner trust the judgement of local bankers loaning money to small businessmen in their community before endorsing the kind of loans that brought our system to it's knees.

WHAT ARE U SOME TYPE OF TURKEY TO WRITE SUCH A RIDICULOUS ARTICLE,, NO PERSON, FAMILY, CHARITY, OR BUSINESS, CAN OPERATE WITHOUT PROPER CREDIT. PEOPLE LIKE U, THAT WRITE YOUR FOOLISH DRIBBLE, ARE THE REAL REASON THIS COUNTRY IS MESSED UP, A PROPER MEASURED AMOUNT OF CREDIT HANDLED RIGHT AND THEN ESCALATED TO BETTER CREDIT IS WHAT HAS ALWAYS WORKED, AND IS WHAT IS NEEDED. STUPID AMOUNTS AND CRAZY HIGH INTEREST RATES, (WHICH ARE THE BANKS STUPID GREEDY FAULT) ARE THE PROBLEM. DID U EVER SEE ANYONE GIVE THEMSELF A LOAN? LET'S PUT THE BLAME WHERE IT BELONGS. UR REASONING IS UNREASONABLE, AND OF THE UTMOST, A FAILURE, TO SAY THE LEAST. TO ME, U SHOW U DON'T, AT ALL, HAVE THE CREDENTIALS TO EVEN ATTEMPT TO WRITE ANY SUCH ARTICLE.

I SEE U DIDN'T PRINT MY FIRST COMMENT. I, LIKE I'M SURE MANY OTHERS FEEL, THAT UR COLUMN IS NEVER WORTH READING AGAIN. UR REASONING IS BEYOND FAULTY AND RIDICULOUS. PLEASE, SPARE US, AND STOP WRITING. WHAT IS UR TRUE AGENDA? WE ARE NOT FOOLED!! GOOD BYE ZAC

JCH.......What history class did you take. The Dem's had everything to do with the sub-prime debockle. Start with CRA....Then go to the enforcement with Clinton and Reno...Not enough .......look at Barney Franks....This moron caused most of it. Obama is trying to stimulate the economy by not understanding the problem and it is obvious that he doesn't. And please curtail your blogs......You seem desperate to send a one sided message.

You would have us believe that Pres. Obama is encouraging loans to high risk small business.(?) Why are you trying to spread this myth? Zac....Your attempted deceit is causing you to lose your credibility. Who is at fault for this financial mess? The Dems? The Reps? It makes no difference because the other party didn't do a thing to correct it.

Only lend based on credit worthyness is the key. The government doesn't take credit worthyness into consideration. The government is incompetent period.

All of these writings a dribble. It was the banks that caused the economic crisis stealing the peoples money than asking the govnt for more of the peoples money. Why hasnt the american people stood up and fought this bailout. A true bailout would have been to give all taxpaying citizens $33,000. ea. That would have stimulated all areas of the nations econimy from local up. GM wouldnt have need a buyout from the govnt and people would still have their homes. The FED has nothing to do with the US govnt it is private own company.