HEARING: State of Small Biz Access to Capital w/Sec. Tim Geithner 6.22.11
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Uploaded by SmallBizRepublicans on Jun 22, 2011
On Wednesday, June 22, 2011, the House Small Business Committee held a full committee hearing entitled, "The State of Small Business Access to Capital and Credit: The View from Secretary Geithner." The purpose of the hearing was to review the current state of small business access to equity capital and debt financing, with a focus on the Department of Treasury's current and future efforts to assist the private sector in providing the needed funds for small businesses to expand and grow, including the Small Business Lending Fund (SBLF) and the State Small Business Credit Initiative (SSBCI) programs enacted by the Small Business Jobs Act of 2010.
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This won't work. First, they bring the state of the economy into question. So, banks stop lending, as they don't know what interest, taxes, or money will be doing. Second, businesses can't get capital. So they're going to force capital out by lending to businesses. Excuse me, as a taxpayer, if you're going to invest my money in a business, I'd like some of the stock. This is crap.
ariuszarim 8 months ago
New Zealand 83-87' tried this small business loan policy thru the "Development Finance Corp", a Govt financed agency for small business loans.........It was a complete disaster........The vast majority of loans went to "wide boy" startups who quickly spent the money then went broke........Long suffering "real" small business was too daunted by the paperwork to apply........This smacks of another "bubble", in the footsteps of Dotcom, Housing, (soon) Bond collapses courtesy of Govt printing money.
Jdmnzcom 8 months ago
The reality is, Obama and his thugs, Geitner included are hell bent on destroying small business and our great Country.
1Roxanna1 8 months ago