Political Quotes

“Mr. President, I thank my colleague, and let me add a few words to that wonderful explanation. Again, what we are on the floor talking about here--the jobs 3 bill, the small business bill--is a lending program for small business. This is not a bank bailout. It is not a big bank bailout. It is not a medium-sized bank bailout, It is not a small-sized bank bailout. It is not for banks. It is for small businesses. We are using healthy banks, not troubled banks, as a conduit to reach small businesses so they do not have to rely on high rates through a credit card company that is impersonal and not interested in their business but just the bottom line. They do not have the home equity that they used to have, as you know, either in Delaware or Louisiana or Oregon or Texas. I think in America we want to encourage healthy relationships between our small businesses and our local banks. Only small healthy banks can participate in this voluntary program on behalf of small businesses in their communities. Ninety percent of community banks are less than $1 billion, and you can only participate in the Small Business Lending Program if you are below $10 billion. So none of the big banks can even qualify for this. As the Senator from Oregon said, there is not going to be an end to this recession any time soon if we don't, in this Chamber, figure out a way to get low-cost capital into the hands of small business. We don't have many choices.…”