Ron Paul Pressing for MBL Easing in Stimulus
Jan. 12, 2009 – Rep. Ron Paul, R-Texas, is organizing a letter to House Speaker Nancy Pelosi, D-Calif., in favor of including greater member business lending authority for credit unions in connection with this year’s stimulus bill.
Paul is working in consultation with NAFCU. The association began pressing lawmakers on this proposal during debate on last year’s stimulus package, noting that greater authority for meeting members’ business lending needs would help stimulate the economy at no cost to taxpayers.
Rep. Brad Sherman, D-Calif., in an address to the House, last Wednesday called on Congress to ease the MBL limit so credit unions can help small businesses get the small loans they need to grow or remain in operation.
The stimulus package is being negotiated among House and Senate Committees and policy representatives of President-elect Barack Obama. Mark-up could occur next week.
So far, reports put the price tag of the next stimulus package from $800 billion to $1 trillion or more.
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While many other
banks are facing economic crisis, Credit Unions are in great shape and allowing them to lend more money out to the people that need is a fantastic idea. The best part is, they don't need any government money to be able to lend.
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I don't agree with this.
I don't agree with this.
good thing we have DP
so we can exchange opinions on this.
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Giving $ to the credit unions
is a great way to help out Main Street America,
In fact, it's the most realistic idea I have heard.
They aren't giving them any $
they're just making it easier for them loan to small businesses.
He's not talking about giving away any government money.
All he's talking about is changing the rules to allow credit unions to make (more) loans to members who use them for financing their BUSINESSES, rather than just their houses and cars.
The members can already vote for what limits they want on how their deposits are loaned. Potentially the CUs could create different classes of share accounts with different limits on how the money can be loaned (and different interest rates and risk structures), letting the individual members pick for themselves. Why should CUs be limited BY GOVERNMENT on what loans they can make to their members?
Thank you for the clarification...
once again Ron Paul proves he makes more sense than any of the rest of them.
Libera me, let the truth break, what my fears make--Leslie Phillips
thanks for the explanation,
that makes more sense.
Now I see what Tim Russert
Now I see what Tim Russert meant when he was talking about how Ron Paul deals with earmarks. He suggests putting something in a bill that he knows is going to pass, then he votes against the final bill so that it's on the record that he is consistently voting. I get it that if the government is going to steal money that they should at least give it to more deserving people but I still think it's morally wrong.
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"We will never give up. We will never give in." - Dr. Ron Paul
"...if the government is
"...if the government is going to steal money that they should at least give it to more deserving people..."
Bold is mine. I don't think that's RPs take. Maybe more like this:
... if the government is going to steal money that they should at least give it back to the people that they stole it from...
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"It will be of little avail to the people, that the laws are made by men of their own choice, if the laws be so voluminous that they cannot be read, or so incoherent that they cannot be understood."
-James Madison
Dr. Paul needs to be very careful about this ...
I hope he can name the constituent in his district that asked for this.
Not only name, but have permission to name.
But I agree, I thought that was an interesting exchange with Russert and I too was a bit troubled.
And this does bring some clarity to my mind.
WAHOR!!
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right on Shannon!
You are no sheep!
Could we get you to run for Congress?
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Haha! I don't think you'd want me to
I'd get so bored having to read all that legal jargon. I can see why so many congressmen are lawyers. You have to be to understand the stupid paperwork!
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"We will never give up. We will never give in." - Dr. Ron Paul
Patriots you forgot this one
anyone owns a small business or profits from some other person owning one?
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