Lenders Reject Obama's Small Business Initiative

  Government and Economy Lenders Reject Obama Plan for Small Business President Obama's $15 billion initiative to spur small business lending has been rejected by every major provider of these kinds of loans. They say the plan simply will not work. WashingtonPost.com As SBA Guarantees More and More... ...fewer and fewer firms are borrowing. While the government measures may help some businesses, the rest are looking for great economic improvements before looking for loans. Kiplinger.com [Read Full Article]

Obama Team to Broaden Bailout While Frank Seeks More Accountability

Government and Economy Obama Team to Broaden BailoutPresident-elect Barack Obama's economic team is broadening the mission of the $700 billion bailout for the financial sector, aiming to unfreeze credit for homeowners, consumers, small businesses and local governments. Frank Offers New Terms for Release of Bailout FundsRepresentative Barney Frank expects the House to act soon to impose conditions on the release of new bailout funds, mandating that at least $50 billion should be used to help avoid foreclosures. [Read Full Article]