Local Capital Summit
As banks fail and lending tightens, there is actually less money in circulation. This is not just an issue of consumer confidence; people can’t spend money that they don’t have. At the same time, we taxpayers are writing trillion dollar checks to huge corporations and irresponsible banks.
While massive corporate profits left our towns and fell into the hands of a few, small businesses have created 80% of the new jobs in the past 10 years. These businesses, which give our communities their unique character, are hit the hardest. We are seeing too many close their doors.