President Obama vowed Monday to ease the financial plight of the nation’s small businesses, promising immediate action to revive frozen credit markets.
President Obama made his remarks to reporters after he and Treasury Secretary Tim Geithner met in the White House with representatives of the Small Business Administration.
The president called small businesses “one of the biggest drivers of employment that we have” and said his administration is “working diligently to increase liquidity throughout the financial system.” Read full article »
NEW: President: Small businesses are “one of the biggest drivers of employment”
Incentive-backed moves would decrease risk to lenders, increase funds to borrowers
Economic adviser: Government to pump “significant amount” of money into lending
Officials: Plan deals with two programs that Small Business Administration handles