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Obama To Announce Help For Small Banks
By: Anonymous
Tue, 10/20/2009 - 15:26
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According toAssociated Press, President Barack Obama wants smaller banks to have greater access to the government's $700 billion financial rescue fund.
Obama on Wednesday plans to announce a package of initiatives designed to increase lending, including a request that Congress increase caps for existing Small Business Administration loans.
The new effort comes as the administration is under pressure from liberals to shift the massive bailout fund's focus away from helping big financial institutions and toward homeowners and small businesses.
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