There is no decent bank credit available as the result of the Obama administration stimulus so far. Banks who were “too big to fail” were given funds to help clean up their books but do not have enough available credit, nor have they the inclination to make sufficient loans when needed.
The Obama Administration stimulus money was never really meant to be spent quickly to boost the economy. That exaggerated hope has been a complete failure.
Treasury and Federal Reserve officials in charge are great bureaucrats with wonderful resumes. But they have one common failing. They contribute little hands-on business experience. They cannot imagine the mindset of a small businessman with perhaps fifty or less employees, who needs bank funds and cannot find a bank willing to part with funds at risk.
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