Follow up on: U.S. Financial Takeover Strikes Again: Credit Unions Swallowed Whole 9-25-10 [see post]
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The big news this morning:
Obama signs $42B small-business bill
The legislation includes $12 billion in tax breaks for small businesses and a $30 billion fund to encourage community banks to make loans to small businesses...Republicans criticized the fund as another taxpayer bailout similar to the $700 billion bailout, officially known as the Troubled Asset Relief Program (TARP). Republicans frequently called the small-business fund "TARP II.”
[The beast now slithering out into the furthest reaches of the private sector - to get his tentacles into small businesses]
But not everybody is fooled:
Small Businesses, Banks Spurn Democrats’ $30-Billion Lending Program
New York (AP) - President Barack Obama's $30 billion small community business lending program faces one big challenge: many of the community banks and businesses it's supposed to help don't want it.
Bank executives say their customers don't want loans, even at low interest rates, because the sluggish economy has chilled expansion plans. Some say the federal money isn't worth it because they fear it will come with too much regulatory oversight.
"We have taken a strategic decision not to have our primary regulator, the government, also be a partner in our bank," said William Chase Jr., CEO of Triumph Bank in Memphis.
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re: be a partner
***
The big news this morning:
Obama signs $42B small-business bill
The legislation includes $12 billion in tax breaks for small businesses and a $30 billion fund to encourage community banks to make loans to small businesses...Republicans criticized the fund as another taxpayer bailout similar to the $700 billion bailout, officially known as the Troubled Asset Relief Program (TARP). Republicans frequently called the small-business fund "TARP II.”
[The beast now slithering out into the furthest reaches of the private sector - to get his tentacles into small businesses]
But not everybody is fooled:
Small Businesses, Banks Spurn Democrats’ $30-Billion Lending Program
New York (AP) - President Barack Obama's $30 billion small community business lending program faces one big challenge: many of the community banks and businesses it's supposed to help don't want it.
Bank executives say their customers don't want loans, even at low interest rates, because the sluggish economy has chilled expansion plans. Some say the federal money isn't worth it because they fear it will come with too much regulatory oversight.
"We have taken a strategic decision not to have our primary regulator, the government, also be a partner in our bank," said William Chase Jr., CEO of Triumph Bank in Memphis.
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re: be a partner
Regulatory oversight, i.e. control through 'partnership', ala A21 Druckerism - that's the whole idea. Splicing the small business sector into the NWO economic-control system. It's on. The credit unions were spliced only two days ago. Be informed. Rev. 18:4
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