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Description: Reports to the Treasury confirm what small business owners have known all year: Banks are cutting back on Main Street lending. Eight months after President Obama began prodding the nation’s banks to increase their small business lending, the loan numbers continue to move in the opposite direction.

Source: CNNMoney.com

Date: 11/17/2009

Link:  http://money.cnn.com/2009/11/16/smallbusiness/small_business_loans_evaporate/index.htm

Questions for discussion:

  • Summarize the situation for small businesses as outlined in the article.
  • What are the future consequences for small businesses? Explain you answer.
  • How should this credit issue be addressed by government and the banks? Explain your thinking.

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