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Government Against Small Businesses?

After giving billions to favored banks and investment companies the government is now saying NO to CIT the largest loan company to small business owners. Why is the government continually doing things that will hurt small businesses and the middle class?

http://www.reuters.com/article/topNews/idUSN1444850020090716?feedType=RSS&feedName=topNews&rpc=22&sp=true

WASHINGTON/NEW YORK (Reuters) - CIT Group Inc, a lender to hundreds of thousands of small and mid-sized U.S. businesses, said bailout talks with the government had ended, a development that could ultimately drive the company into bankruptcy.

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 10:13 AM on Jul. 16, 2009 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (16)
  • Everything they are trying to pass or have passed is detrimental to small business. Cap and tax or their helathcare plans if passed either one of them will cripple the economy.
    Carpy

    Answer by Carpy at 10:17 AM on Jul. 16, 2009

  • This just proves how smart they really are. It makes you wonder what theyre thinking sometimes? I dont get how anyone can think this is OKAY. I may not be the most intelligent person when it comes to politics, but even I can see the problem here.
    BEXi

    Answer by BEXi at 10:22 AM on Jul. 16, 2009

  • Because small businesses don't participate into political "pay to play" games and schemes--there's nothing in it for the politicians! MANY small businesses don't have enough extra cash flow to grease the palms of politicians and lobbyists, nor do they have stock options that politicians can vest in! If a politician cannot make money off of you, you are of no use to them!
    LoriKeet

    Answer by LoriKeet at 10:46 AM on Jul. 16, 2009

  • The health care will actually help a lot of small businesses. We own our own business and I can say that medical insurance for our employees is our #2 expense (right after payroll). If we didn't have to pay that wouldn't be in the situation we are now where we are thinking of laying off two employees.
    Anonymous

    Answer by Anonymous at 10:47 AM on Jul. 16, 2009

  • Because they are not "too big to fail"...I don't understand you ladies, you decry the bailouts but you are advocating bailing out CIT?
    sweet-a-kins

    Answer by sweet-a-kins at 10:47 AM on Jul. 16, 2009

  • We decry the stupidity of bailing out companies not willing to change business practices and the wrongness of helping one business over the other........can we say "if you scratch my back I'll scratch yours (unions)"?

    momof030404

    Answer by momof030404 at 11:02 AM on Jul. 16, 2009

  • "If we didn't have to pay that wouldn't be in the situation we are now where we are thinking of laying off two employees."


    But you will still have to pay something for it. And if you don't provide medical for employees you could get fined. So I don't see how that benefits anyone. We only have one employee who doesn't need medical anyway, but even so I don't like being told I have to pay for it or get fined.

    Anonymous

    Answer by Anonymous at 11:04 AM on Jul. 16, 2009

  • Because most politicians can't see the "big picture". They don't care if one or two small businesses fail--what's it to them, it doesn't affect them in any way. They can't see that when THOUSANDS and HUNDREDS OF THOUSANDS of small businesses fail it WILL affect them, and not only them but every citizen in this country. And we need to constantly remind them that those affected are voters. We put them into office, and we can replace them with someone else if we wish.
    pagan_mama

    Answer by pagan_mama at 11:05 AM on Jul. 16, 2009

  • Too big to fail shouldn't apply to ANY business. Isn't that the whole point of free market enterprise? NONE of the bailouts should have happened. Many of us spoke out against TARP and everything since. I think if the gov. doesn't have a hand in their bucket, they couldn't care less about you.

    QuinnMae

    Answer by QuinnMae at 11:08 AM on Jul. 16, 2009

  • We decry the stupidity of bailing out companies not willing to change business practices and the wrongness of helping one business over the other........can we say "if you scratch my back I'll scratch yours (unions)"?


    and what makes you think CIT is different?

    sweet-a-kins

    Answer by sweet-a-kins at 11:08 AM on Jul. 16, 2009

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