Political Quotes

“Each workday every Member of Congress receives a publication called Congress Daily. A few months ago, the Congress Daily had a cartoon which showed the President and his Secretary of the Treasury hollering out, ``Loan, loan, loan.'' And then it showed the banks with huge bags full of money, and then local examiners pulling back saying, ``No, no, no.'' And that is the crux of the problem. The banks have plenty of money to loan, but they have got the examiners at the local level saying, ``No, no, no.'' And this is something that both administrations have agreed on, because President Bush and his Secretary of the Treasury started this back before President Obama even came into office, urging the banks to make more loans to small businesses. But they can't do it because the examiners have turned down almost every kind of loan that they wanted to make except to people who didn't need loans. Just the weekend before last I had a banker in east Tennessee tell me that they had turned down a $5.5 million loan.”