Word: federales
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There are plenty of reasons to 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...
Now, it is true that credit standards for business lending haven't tightened, as illustrated by the Federal Reserve's monthly loan-officer survey. And as Fed governor Elizabeth Duke pointed out in a speech on Feb. 26, those tougher standards could be having a disproportionate effect on small businesses...
But in many ways, the tightened credit make sense. We are living in the aftermath of the greatest credit bubble since the Roaring '20s, after all. Standards were too loose and had to change. At the same time, problems at many banks are contributing to the new, more conservative lending...
Perhaps this is why the possibility of a new, Venice-like waterway in the heart of Brooklyn held such appeal. Against all odds, for the past several years Mayor Michael Bloomberg's administration has lobbied to turn the borough's Gowanus Canal - a foul, PCB-laden channel that winds for...
But pleasure boaters were warned not to touch the water - and for good reason. Recent testing revealed the presence of heavy metals and pesticides, along with cancer-causing PCBs, concentrated in sediment at the bottom of the canal. The magnitude of the cleanup task seemed to call out for federal...