Posted on 07/10/2009 2:21:58 PM PDT by Constitutionalist Conservative
The Obama administration is developing an initiative to take money from the $700 billion program for the banking system and make it available to millions of small businesses, which officials say are essential to any economic recovery because they employ so many people, according to sources familiar with the plan.
The new effort -- which would represent a striking shift from the rescue program's original mandate -- would direct billions of bailout dollars toward a program that aims more at saving jobs than righting the financial system.
A proposal being floated by senior Treasury Department officials calls for using the bailout funds to expand an existing government program that helps small companies borrow money from banks a low rates to keep their businesses going, the source said. These "working capital" loans would come with few restrictions and could be used for buying inventory, holding onto employees and paying off short-term debt.
(Excerpt) Read more at washingtonpost.com ...
Well, we can all thank George W. Bush for bringing us the abomination that is TARP, opening the doors to the Democrats and their Socialist agenda.
If they can’t pay the loans back, will Obama take over their business?
And if any of them take the money they will have to pay union scale wages, give free health care and provide all sorts of other Obamanation goodies.
No strings attached I assume? What a joke.
Government Bailout Services = We own you now.
What??? This cannot be. Socialism is not working?? Now, how can everyone bail out everyone??
(that was supposed to funny, but the house of cards is getting closer to coming down -— along with Obama’s ratings amongst even his “kool-aid drinkers”.....)
** FEEL THE HEAT !!! **’
(Hey, both China and Russia warned he and his ilk...)
Doesn’t make a lot of sense to me. It’s good to free up a little credit for small businesses, but job loss is going to be tied more to sales than to capital, I think.
Obama will make them an offer they can’t refuse...
I'm ready for a personal bailout myself.
Don’t take the money, ladies and gentlemen. It would be better to close the doors than to take fedgov bailout money.
Why buy inventory you can’t sell?
I agree. My husband has a small fence company and has been in business in Central Texas for 10 years. He employs 5-1/2 people (all 100% legal). For the first time in the history of the business, there isn't any work to do on Monday. He told them all to take next week off... scary...
Photo of the Obama family attending the funeral for the death of American freedoms and the death of the USA.
"F'k it" said the first foreigner elected to the US presidency. You morons elected me! LOL! I'm bustin out the old USA and replacing it with something that came to me when I was smoking crack one day. Speaking of crack, you idiots think my old lady is preggers. Ha! She's got 10 pounds of coke under her dress! Allāhu Akbar you dumb $hits!"
“If they can’t pay the loans back, will Obama take over their business?”
That is the first thought that went through my head. This is GM and Chrysler on a small scale. Take the money and they will own you!
Scary yes, but in a strange way, kinda peaceful too.
rotf nick!
When it was suggested to Zero that he and his staff read the works of Milton Friedman, they went to the library and got the works of Myron Floren by mistake.
Geithner: Stimulus is working and on right path
AP via Breitbart | july 10, 2009 | ANNE FLAHERTY and JIM KUHNHENN
Posted on 07/10/2009 2:39:55 PM PDT by Jet Jaguar
http://www.freerepublic.com/focus/news/2289977/posts
The list, ping
It seems unsavory that the federal government would support gambling ... ;-)
schu
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