Good morning. An excellent question to start the day: where is the help for small businesses?
The credit crunch continues (WSJ) Meredith Whitney says while too big to fail whales have been munching on taxpayer dollars, small biz is drowning:
Anyone counting on a meaningful economic recovery will be greatly disappointed. How do I know? I follow credit, and credit is contracting. Access to credit is being denied at an accelerating pace. Large, well-capitalized companies have no problem finding credit. Small businesses, on the other hand, have never had a harder time getting a loan.
More stimulus needed (Paul Krugman/NYT) The Keynesian Krugman argues it’s no time to worry about the budget deficit.
Global investors should dump their dollars (Bloomberg) .. because of all the spending, money creating and gifting to the financial industry.
Michael Moore misses the point (Steven Pearlstein/Washington Post)