Tuesday, April 20, 2010

Yes ! Small Business has a home in Illinois ! Now, we have a country. Oh, yes we do !

Illinois State Rep. Mary E. Flowers 

The Community Bank Of Illinois: A Banking "Public Option"?

After the imprudent and possibly illegal behavior of America's largest banks sent the nation into a deep recession and necessitated a massive bailout at taxpayers' expense, Wall Street firms have rebounded nicely. In the first quarter of 2010, JPMorgan Chase, Bank of America, and CitiGroup have all posted sizeable profits.
The same can't be said for many businesses on the South Side of Chicago, where financing is hard to come by and unemployment is staggeringly high. Residents fighting for their homes aren't getting much assistance either, as banks spend more of their time fighting sensible foreclosure prevention bills than refinancing home loans. "A lot of people are angry and upset," said Rep. Mary Flowers (D-Chicago) in an interview last week. "The people of the state don't feel like we've gotten much of anything out of the deal."...