In his December 12 weekly address, President Obama continued to point out the failures of financial institutions and their leaders, and once again lamented that so many small businesses have closed their doors over the past several months. He also expressed his intention to push banks to give small businesses access to lending “they desperately need to grow.”
(If you are reading this post via email or in an RSS readers and cannot see this video, please click here.)
Several news organizations, including the Wall Street Journal, are reporting that today, Obama will meet with a group of top bankers in an effort to encourage them to extend more credit to small businesses. Obama is said to be urging banks to loosen lending restrictions in part by leveraging the financial help the federal government gave banks to save them earlier this year. Continue Reading…
