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Thursday Links: Geithner Scolds Banks

Posted by: John Tozzi on November 19, 2009

Geithner calls on bailed-out banks to increase lending to small businesses, Meena Thiruvengadam writes in the WSJ.

Small business owners should think twice before skimping on holiday gifts to clients, the AP’s Joyce Rosenberg writes.

Sen. Mary Landrieu (D-La.) says Congress must get health reform right for small businesses, David Herszenhorn reports at the NYTimes Prescriptions blog.

And Time’s Janet Morrisey finds small business left out of the recovery.

Reader Comments

Carol Cross

November 20, 2009 1:06 PM

While Secretary Geithner scolds the banks for not lending to small businesses, he must be aware of the grim statistics concerning the survival of small businesses -- even in a good economy.

The banks are being burned by defaulting commercial loans right now and are not anxious to take on loans that will default over the long term because of known statistics -- even with 90% SBA guarantees. Won't the banks want to wait until the full measure of the meltdown in the commercial lending market has played out.

What is the lesson of CIT? How do policy makers overcome the brutal reality of the known 50% failure rate of small businesses in the first five years.

Are the statistics on job numbers provided to the Congress skewed to provide a false picture of the number of jobs produced by "small business" in our economy?

What is the lesson of CIT? No easy answers!

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What's it like to run your own company today? Entrepreneurs face multiple hurdles new and old, from raising capital and managing employees to keeping up with technology and competing in a global marketplace. In this blog, the Small Business channel's John Tozzi and Nick Leiber discuss the news, trends, and ideas that matter to small business owners. Follow them on Twitter @newentrepreneur.

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