Banks and small biz don't want it...

iVillage Member
Registered: 08-16-2005
Banks and small biz don't want it...
1
Sat, 09-25-2010 - 6:49am

It can't really be a surprise that the small business bill isn't what small business' want or needed right now.


iVillage Member
Registered: 09-15-2008
Sat, 09-25-2010 - 10:17am

<

The fears stem from what happened under TARP, the Troubled Asset Relief Fund, formed at the height of the financial meltdown to pump money into banks. Banks that accepted TARP money had to later cut dividends to shareholders and limit compensation to top executives.>>

oh no. what a pity. but in all seriousness, all loans have conditions, and if they want the lower interest rate from this govt loan, this is a condition they will have to accept.

<

In this new legislation, the government is taking steps to avoid the tarnish that accompanied TARP. The key part of this effort: Banks can return the money without penalty if rules governing the small business loans change.>>

that problem is solved.

<<“The rules can be changed any time,” said Chase.>>

LOL! spoken like a true bank CEO! (i'm only half kidding on this)