Wall Street Journal; By: Simona Covel
There’s more noise from Washington as politicians continue to respond to small businesses’ plea for looser credit.
This time, two senators - Mary Landrieu, D-La., and Olympia J. Snowe, R-Maine - are asking the Treasury to use bailout funds to guarantee bank lines of credit for small businesses.
In a letter to Treasury Secretary Tim Geithner, the two senators, who are members of the Committee on Small Business and Entrepreneurship, call the proposal a “common-sense solution,” saying it wouldn’t require Congressional approval and would give banks assurance that their loans will be repaid.
“Most critically,” the letter says, the proposal “will enable small businesses to obtain the capital they need to keep their doors open and employees on the job.”
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