Word: crediteers
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...other parts of Europe, things are looking even worse. Shares on the Greek stock market have fallen 9% over the past two days. The parlous state of Greece's public finances has prompted credit-rating agency Fitch to lower the country's debt rating to BBB+, the lowest in the euro zone, Europe's single-currency region. Further blows could follow: rival agencies Moody's and Standard & Poor's have threatened similar moves in recent days. (See 10 things to do in Athens...
...flat-out paying companies to hire, or by reducing their share of payroll taxes (the money that gets withheld from workers' paychecks to pay for Social Security and Medicare). Either way, adding a new worker becomes cheaper. We last tried this in the 1970s - the mechanism was a tax credit for hiring - and the results weren't particularly remarkable, though part of that could have had something to do with the structure of the credit...
Boost Access to Credit for Growing Businesses Small businesses - or, to be more precise, young businesses - create a disproportionate share of new jobs. To do that, they need to grow, and to do that, they often need access to credit. While the ability of large firms to borrow has pretty much returned to normal, many smaller firms are still struggling to get the money they need from banks. It's a problem that even Federal Reserve Chairman Ben Bernanke has talked about in recent weeks. The seeming solution: help get small, growing companies loans and the jobs will follow...
...government has already taken a number of steps in this realm, largely through the Small Business Administration. The issue with increasing access to credit, though, is that easy money was one of the main reasons we wound up on the brink of economic calamity in the first place. Taken as a group, new businesses may be job creators, but any sort of average masks the fact that many young companies completely combust. Lending to them is risky, and while it may be desirable to lend more in an attempt to create jobs, there is a flip side to the coin...
Cambridge police just released this photo of the man who quietly robbed the Harvard University Employees Credit Union last week by presenting a letter to the teller...