AP INVESTIGATION: Main Street's soaring sour loans - Yahoo! News
Wasn't Dear Leader supposed to be all about the little guy?It's a sign that even as record profits re-emerge on Wall Street, thanks to massive government loans and guarantees for banks deemed too big to fail, the pain on Main Street is as profound as it's been in half a century. The companies that were not too big to fail are failing.
They're just thinking about this now?The White House has floated a proposal to take money from a $700 billion bailout of the financial system and provide small companies with working capital, allowing them to add inventory and employees. If it happens, the White House said, help might arrive by fall.
What happened to the urgency? Remember back in February, when Dear Leader was all about stimulus NOW?
Maybe taking some bailout money and getting working capital going to business that lost their working capital lines in the credit crunch last fall sometime this fall is urgency? This is action that is "swift, bold and wise enough for us to climb out of this crisis"?What Americans expect from Washington is action that matches the urgency they feel in their daily lives -- action that's swift, bold and wise enough for us to climb out of this crisis.
Because each day we wait to begin the work of turning our economy around, more people lose their jobs, their savings and their homes. And if nothing is done, this recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse.
Dear Leader is all about preserving his campaign contributors on Wall Street and ignoring Main Street, where the bulk of the American economy resides. He's bailing out his buddies and leaving everyone else hanging.