Small biz, banks may spurn Obama's $30B program (FAIL)

apnews ^ | 9/24/10 | PALLAVI GOGOI

[Typical_Whitey]

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.

[Typical_Whitey]

They don't want it. After Obama lambasted Republicans for trying to stop this epic failure, we find out that the banks don't want all the government regulation required when they take these loans. This is exactly what is wrong with this Administration it is trying to force Socialism and government control in all industry and it just doesn't work in America. Amazing that Republicans don't stand up and shout every time Obama forces these failed programs down the throats of America, failed programs that you and I have to Pay for... No matter how you slice it, Govt oversight and excess regulations result in cost increase to consumers that is the middle class, and govt claims it needs more revenue to pay the people it hires to do the oversight so it raised our taxes. Middle class gets screwed roaylly by Democrat programs.

[EGPWS]

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.

Quit b!tchin' and take it!

You think this is some sort of free enterprise system we have or something?

[griswold3]

This bill is actually Son of TARP or a ‘bailout’ for smaller banks. Only you can’t use the word ‘bailout’ or ‘stimulus’.
Businesses that have good credit can get loans. Therefore, one can believe that this could be used for ‘other’ reasons. (i.e. Patronage?)

[celmak]

“Come closer, I really would like to have you for dinner;” said the spider to the fly.

[RocketRoland]

Free enterprize,yes. The government is raisiing their taxes and going to lend it back to them and charge them interest on it.

[grania]

It’s just another way to throw money to political insiders. Take the money, hire your buddies to set up the business, everyone taking generous profits along the way, then declare bankruptcy when the money runs out.

[wac3rd]

The cash comes with strings...and everyone I know hates Government “handcuffs” with the gift of borrowed Chinese money.

Libtards have no idea about how business works that is why Obie is failing with his crew of eggheads who have never closed a deal or made a payroll.

[BobP]

It’s just another way to throw money to political insiders. Take the money, hire your buddies to set up the business, everyone taking generous profits along the way, then declare bankruptcy when the money runs out.

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A facade of 'stimulis' heralded as the 'fix' to all our most pressing problems, or merely propaganda, i.e., a travesty of a mockery of a sham.

[comps4spice]

Yesterday a friend told me a story. He is a small business owner, and has a sizable loan from a small bank in Central Texas (the bank only serves the Hill Country). He said federal bank examiners had been at the bank, and since his loan is the largest, they required he and his partners to provide details of their personal finances.

Despite the fact that his business grew 61% in 2009 and has grown another 20% this year, the federal bank examiners told the local bank that he will default and thus they are in danger of failing. The bank is sound, as are the other banks in the area.

I really believe what the feds are attempting to do is to take control of ALL banking and finance in the country.

We live in dangerous times; the Democrats are becoming a domestic enemy of the people of the United States.