A Quote by Ed Miliband
One nation banking recognises that banks must not be isolated from the rest of the economy. Because banks and small businesses must succeed or fail together, banks must lend to small businesses so we can get the growth and jobs we need for the future. As things stand, that is not happening enough. Lending was down £10.8billion last year.
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Congress can protect small businesses by providing effective oversight over SBA policies and make sure they take into account the needs of small businesses while also protecting taxpayer dollars. Congress also needs to make sure that new banking regulations do not make it more costly for community banks to lend to small businesses.
Banks hold deposits and savings entrusted to them by individuals, by businesses, by governments and by central banks. They put that money to work, helping people to buy homes, for example, or lending to businesses to invest in expansion.
The S.B.A. does not lend directly to businesses, but instead backs loans to encourage banks to invest in small businesses as part of a nearly $90 billion portfolio.
Many small businesses rely on small financial institutions, like credit unions and community banks, to meet their capital requirements. Without them, these small businesses would have to close their doors.
After getting driven into the ground by the policies of the Bush administration, the economy is creeping up. It's doing that because people are sticking their shoulders to the wheel. Community banks are doing a lot of lending to small businesses and keeping them going.
In my view, this is not extremism on the left. This is what the American people support in poll after poll. Support the right to a job. Support living wages. Support real climate action. Support small community-based banks that make loans available to every day people and small businesses, not these too-big-to-fail banks that rip us off, that crash the economy at taxpayer expense. Support a public-option healthcare system, not Obamacare, which has been a boondoggle for insurance and pharmaceutical companies.
We need to repeal Dodd-Frank act. It is eviscerating small businesses and small banks.
Financial institutions have been merging into a smaller number of very large banks. Almost all banks are interrelated. So the financial ecology is swelling into gigantic, incestuous, bureaucratic banks-when one fails, they all fall. We have moved from a diversified ecology of small banks, with varied lending policies, to a more homogeneous framework of firms that all resemble one another. True, we now have fewer failures, but when they occur... I shiver at the thought.
Small businesses have suffered under the demands of Obamacare and community banks have scaled back lending due to stringent provisions of Dodd-Frank financial regulation.
Negative interest rates hurt banks' balance sheets, with the 'wealth effect' on banks overwhelming the small increase in incentives to lend.
Our economy creates and loses jobs every quarter in the millions. But of the net new jobs, the jobs come from small businesses: both small businesses on Main Street and many of the net new jobs come from high growth, high impact businesses that are located all across the country.
There's another way we are getting behind business - by sorting out the banks. Taxpayers bailed you out. Now it's time for you to repay the favour and start lending to Britain's small businesses.
One of the first things President Trump did to stimulate the economy was to remove harmful regulations that left our small banks, energy companies and other businesses treading water to stay afloat.
There's another way we are getting behind business - by sorting out the banks. Taxpayers bailed you out. Now it's time for you to repay the favour and start lending to Britain's small businesses again.
Separating out banks and investment banks right now under Glass-Steagall would have very big implications to the liquidity and the capital markets and banks being able to perform necessary lending.
If two parties, instead of being a bank and an individual, were an individual and an individual, they could not inflate the circulating medium by a loan transaction, for the simple reason that the lender could not lend what he didn't have, as banks can do. Only commercial banks and trust companies can lend money that they manufacture by lending it.
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