Friday, August 10, 2012

Don't hold your breath

Just in time for the fall elections the Small Business Administration has announced it's going to ease credit restrictions on loans to small business owners. SBA says it's going to raise the maximum loan amount to $350,000. The announcement sounds great.

Most of us in the real world know that the guy who writes the ads is not the same one who approves the loans. Banks are busy using stimulus money to buy other banks and get out of their own messes, such as Morgan Stanley's 4 billion loss. And now the LIBOR scandals.

God bless America!

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