Credit is Scarce
Since the economy has been doing so poorly, there have been many repercussions. One thing that has gone bad is the ability of small companies to get credit. It seems that the banks have gotten scared and are not lending to companies even though they have a proven track record and are profitable.
The trend of the story is most depressing as the taxpayers have dumped billions of dollars into the banks in order to improve their ability to lend. If the banks still won’t lend money, then how will we be able to overcome these depressing conditions? I hope that the leaders of these financial institutions will reconsider their position and allow those people who have proven themselves to borrow!