Olympia Snowe

Well, what could we do better, then? That is what we have to figure out, is how best to attack this problem.

We have to aggressively pursue this, not only in this agency, in every agency with respect to how we deal with individuals and companies inappropriately using taxpayers' dollars.

The bottom line is that those who are legitimate firms that should be eligible for these funds are not able to get them because somebody else is using them illegally.

Clearly, action is warranted and we have to reverse that culture, any inhibition that exists in taking proactive action, frankly.

It is essential we make sure that all of the taxpayers' dollars are being spent efficiently and legally

We have to create an environment to make sure that we do not create any disincentives

To exact responsibility on the part of the agencies, as well, not make it so optional

Are these annual reviews required by law?

So that probably should be adjusted and a different standard.

I think that is actually really important as kind of a long-term strategy here.

Regrettably, January marks the 21st consecutive month that the unemployment rate has been at or above nine percent.

We cannot relent on that.

I think the committee deserves a response to the report, to the specific disposition of each and every firm or individual that was cited in the GAO report or any individual or firm that has been reported to SBA.

I think the committee needs to have a response from the SBA on these issues.

Thank you, Chair Landrieu, for holding this hearing today to discuss the barriers that continue to exist for our nation's underserved small businesses.

Yes. Thank you all. Thank you both very, very much.

What would you think about the average minority entrepreneur--and I would ask others, as well--on behalf of your constituencies, about how they view the SBA's lending track record?

I would just mention that those 26 that I cited were in the IG's testimony.

I think we need to have an accounting for each and every one of those.

The fact is that there were 14 ineligible firms that were determined by the GAO to be fraudulent

According to the U.S. Department of Commerce, minority-owned firms generate $1 trillion in economic output to the U.S. economy and create 9.5 million jobs.

If you inappropriately use Federal dollars or access Federal programs illegally, then we obviously have to make sure that we take appropriate action.

We have an obligation here in the oversight capacity of this committee.

Even more astounding, the Bureau of Labor Statistics reported in January unemployment of African Americans was 15.7 percent, and 11.9 percent among Hispanics.

I would hope on two fronts that your Department weighs in aggressively and proactively on this question.