Hearings: Credit for Manufacturers, Promoting Exports

By October 2, 2009Economy, General, Trade

Congress is not in session today so the schedule for committee hearings next week is already published here. Two we find of immediate interest.

A topic of much concern, the credit issue. From Bloomberg today, “Whitney Says U.S. Rebound Hampered by Small-Business Loan Curbs“:

Oct. 2 (Bloomberg) — The U.S. recovery will falter as banks continue to curb lending to small companies, said Meredith Whitney, whose 2007 prediction that Citigroup Inc. would cut its dividend triggered a plunge in the bank’s stock.

“Access to credit is being denied at an accelerating pace,” Whitney said in a commentary in the Wall Street Journal. While large companies have no problem obtaining loans, small businesses “have never had a harder time,” she said in the article, dated yesterday.

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