Bill Clinton: “Thank you very much. Thank you very much, Secretary Bentsen, other members of the Cabinet and distinguished Members of…”

“Thank you very much. Thank you very much, Secretary Bentsen, other members of the Cabinet and distinguished Members of the House and Senate of both parties, and the business men and women and the bankers who are here today. I am in debt to many people in this room and throughout this country who raised to me in many ways, over the 16 months in which I was engaged in the campaign for the Presidency, the question of the credit crunch. From the beginnings of that campaign in New Hampshire, across the country to Illinois and Michigan, down to Florida, across to California, and in all points in between, I repeatedly ran into small business men and women, I repeatedly met bankers themselves who said they wished that something could be done to open up credit again to creditworthy loans, to generate jobs in the private sector. Today we are taking a step to speed the economic recovery that will increase jobs by increasing access to credit for the main engine of our economy, small and medium-sized businesses. At the same time, by strengthening our banking system, our plan will move us beyond the banking problems of the last decade. The initiative avoids the regulatory excess and duplication we've seen and focuses on real risks within our financial institutions and on fair lending, equal opportunity, and credit availability. Every day, small business is a big part of all of our lives.…”