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...believe that small businesses aren't getting the credit they need. In the last three months of 2009, business lending at smaller banks, which tend to cater to smaller companies, was down at a 13% annual rate, according to the Federal Reserve. Not only are loans harder to come by, but they're also more expensive. That has the potential to slow down economic recovery, since firms that can't borrow often can't expand. Policymakers have responded with a number of programs to boost small-business lending, including an Obama Administration proposal to repurpose $30 billion of bank-bailout...
...Austin, Texas, Edward Lette, CEO of the Business Bank of Texas, is scouring the business community for companies to lend to. He's not having much luck. "I'm struggling to find qualified credits," says Lette. "Many times, people come in and apply for loans, but it's not to grow their business - it's to get their business out of the hole they're in because they've already borrowed way too much." On more than one occasion, Lette has recommended that instead of a loan, a business owner contemplate bankruptcy...
...largest trial court system in the nation - this week laid off 329 employees and closed 16 courtrooms. Facing an unprecedented $79 million shortfall, Presiding Judge Charles W. McCoy said that the courts will lay-off an additional 500 workers and shutter up to a total of 50 courtrooms come September. Announcing the cutbacks in a courtroom closed months ago to save money, McCoy said, "Today is a sad day for justice in Los Angeles." With attrition, McCoy expects the 5,400-employee court system to lose approximately 1,000 employees, a 20% reduction...
...take lightly. Bordered on the west by the Suez Canal Zone and on the east by Israel and the volatile Gaza Strip, North Sinai is home to a thriving cross-border smuggling trade and a sometimes rebellious local Bedouin population. Mwafi says the skills of his previous job have come in handy in governing Egypt's wild east. "As the director of military intelligence," he explains, "I had very good relations with the director of Israeli military intelligence." He adds that representatives of the two forces meet "every six months to discuss if there is any infiltration or smuggling...
While the case of Father H. has assumed a high profile, Germany's sexual abuse scandal first broke in January when it was alleged that two former priests molested pupils at Berlin's Jesuit school, Canisius College. Since then, dozens of people have come forward with allegations of sexual abuse levelled against former priests. The scandal has even spread to the famous Regensburg Cathedral choir - which was led by the Pope's brother Georg Ratzinger for 30 years - and there've been up to a hundred allegations of abuse at a boarding school run by Benedictine monks in Ettal, Bavaria...