Page 30 - Credit Availability News Today

9%. theres a big hole in the economy from the recession. >> we still face a lot of headwinds. this recession has been, as ive said, absolutely terrible. its also an unusual one having been caused by a financial crisis. its created a lot of fear. we still have some trouble with debt and credit availability. >> reporter: another top economic advisor, larry summers, said we have a long way to go before unemployment goes back to prerecession levels of roughly 5%. he said as more discouraged workers ...

I dont know if that was the main reason oil was at $140. i dont think it was. i think they played a role, but i dont know. i do know this: as the price of crude oil went up, our financials went down. that is indisputable and i think that is pretty compelling. we talked about it before, but never tied it in to speculators gaining the system or foreign entity doing it to push us over the edge. phase two -- thats phase one. phase two was bare raids on the market. we talked about this as well. untra...

Lend more to small businesses. >> making credit availability to sound businesses should be front and center among the current policy challenges. >> the banks say the problem is not tight money. they say there is less demand for loans and the business leaders say there is less demand for what they are selling. and they believe thats because people still arent sure that things are headed back to normal. bret? >> bret: wendell goler, live on the north lawn. thank you. you heard the chairman ben ber...

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