Log in to your IBTimes Account

close
ID
Password
  • Set your IBTimes.com Edition

Geithner: Lack of small-firm loans slows recovery



18 November 2009 @ 09:24 am ET

WASHINGTON - U.S. Treasury Secretary Timothy Geithner on Wednesday called on banks to "get back to the business of lending" and said a tough credit environment for small businesses will slow economic recovery.


US Treasury Secretary Geithner testifies on Capitol Hill in Washington
Treasury Secretary Timothy Geithner testifies before the Senate Foreign Relations Committee hearing on "The U.S. and the G-20: Remaking the International Economic Architecture ” on Capitol Hill in Washington November 17, 2009. (REUTERS / Kevin Lamarque)
1 of 1

"Without increased access to credit for American families and small businesses, growth will be weaker, companies will defer long-term investments and we will not be able to create a recovery that is self-sustaining and led by private demand," Geithner said in opening remarks to a small-business financing forum hosted by the Treasury.

(Reporting by David Lawder; Editing by James Dalgleish)

Copyright 2009 Thomson Reuters. All rights reserved.

    Click!
  • Rate this article:

Comments

Post Your Comment

*Name


advertisement
More Finance
Xerox Corp <XRX.N> plans to buy Affiliated Computer Services Inc <ACS.N> for $5.5 billion to move into the outsourcing business, but shares o...
Warner Music Group Corp and YouTube are finalizing an agreement that would allow music videos from artists such as Madonna and Green Day to once again be...
Investors in a class-action lawsuit against Bank of America Corp <BAC.N> over the Merrill Lynch & Co takeover are trying to collect "billions o...

advertisement
 
IBTimes.com Web
Partners
International Business Times© 2010 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives