Here's part two. I was listening to NPR the other day and heard that due to Bank of America closing out a credit line for a small business whose sales were declining, 300 people were suddenly out of work.
Come on, (banking) folks. The US government did NOT give you all our taxpayer dollars so you could sit on the money and pull back credit for companies that are doing their best to survive.
My earlier post on American Express giving small businesses a hard time said that Bank of America was among the good guys. Based on the NPR story, it seems we may have to revise our view of BoA. We'll wait to see what happens in the coming weeks, sometimes there's more to the story than we hear.
Still, if the government keeps handing out money to companies and doesn't step in to help individuals, this US economic boat may just capsize. Let's hope someone recognizes this and starts tipping things in the other direction soon.
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