Wednesday, March 24, 2010

I guess some people still think its pretty bad...

FT article from Robert Reich.

My guess is that now, America, can focus on its economy and not health care...its over, for now.

The debate has to shift to the economy now, after the Obama presidency and the congress, held America hostage with the health care debate.

What will be the way forward? As Reich suggests, it has to be with credit to small businesses.

Blaming banks for not lending, is not a good solution. We have to find a secure way. Government crowding out private banks, is not a good solution either- you risk diluting the private entrepreneurship spirit, as well as closing the market on smaller banks. Also, you run the risk of lowering services, especially to the small businesses you wish to help.

A simple idea is for government to simply keep on supporting private banks. And, to be honest, wait it out....sad, but true!
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