Mr. Speaker, in 2008, after years of lax regulation and Wall Street roulette, our Nation's economy fell off a cliff. Within a matter of months, many Wall Street giants fell, and they took the livelihoods of thousands of small businesses with them. Since that time, we have taken bold action to stabilize the economy, to invest in economic growth, and we are in the process of putting in place new rules to protect against the casino-like atmosphere that existed on Wall Street. Yet for small businesses, they are still feeling the pinch. Accessing capital to build, to grow, to diversify, and to hire new employees remains a pressing challenge. In September of 2008, there was an earthquake on Wall Street, and the aftershocks are still being felt on Main Street. The purpose of this bill is to help those small businesses deal with the aftershocks of that credit crunch from a year and a half ago.
Editor's note · Context
The speaker addresses the impact of the 2008 financial crisis on small businesses and the need for legislative support.
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