If Obama wants small businees to get loans, TAKE THE TARP

[jasi2006]

money already paid back and let the government lend directly to small business through the Small Business Administration. Just set up a fair and simple process with little red tape and use the employees already on board to administer the loans.

[rfranklin]

1. SBA loans were always done through banks....

so you would have to change the entire process to prevent them from fouling up the process.

[jasi2006]

2. Ready, set, GO!!!

Government can handle this. Too much stuff is already contracted out to the private sector and the Feds get blamed for it because people don't understand what is going on. Most of the waste, fraud and abuse we talk about is from the contractors performing government functions.

[jasi2006]

4. Fouling up the process?

If it weren't fouled up by the banking industry as the middle man, would we be in this predicament now? Even if the Fed screwed up 50% of the loans ( I still don't know what is meant by the "fouling up") at least 50% would be approved and benefiting someone. The interest rates could be much lower than banks would give and certainly the penalties could be less harsh. Pay back to the Feds would be at much lower rates for a longer period. If there were unwarranted defaults, the power of the Feds could take over the business assets and move on. Fraud in the process could be dealt with swiftly with a go right to jail card for frauding the government...which should have more power for swift justice than going through bankruptcy processes and forclosures from the banks. I say if the private sector doesn't deal fairly to help out our economy, move on to a more socialist economy UNTIL things shape up then gradually turn business back to the private sector if they are deserving. Right now, capitalism is failing miserably and the power of the President to re-shape things is very limited by the lobbyists hold on our Congress critters. Move away from this system and spread the economy around to Main Street with the Feds keeping everything in check. Remember, the most problems we have had with our military have been from the private sector contractors that handle military business that should have been left to the traditional military. Even down to feeding our troops and taking showers.

[jasi2006]

3. Somebody please tell me why this cannot be done? nt

[jasi2006]

5. Any takers on this? Please give me some reasons. nt