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To make money with businesses like yours, because yours are the ones that grow. but they re still feeling gun shy because of what happened on wall street. and in fairness to a lot of the community banks, they weren t the ones who were making big bets on derivatives, but they were punished, nonetheless. they ve been hit really hard in the housing market. they ve been hit on their portfolios. they ve been trysting to strengthen their portfolios. but when we provide these loan guarantees through the sba or provide cheaper money to them that they can then lend out and as long as we reonitoring them to make sure they actually lend it to small businesses, they are the ones that are most likely to get the money out the door. this bill is very important. it has been held up now for a couple of months unnecessarily. there was an article in the usa today just about three weeks ago that said small businesses were actually holding off on ....
Us to invest this money elsewhere. well, that s why it s so important to make sure that if they are getting help from us hn terms of having more money to lend, that they actually lend it out and they lend it to small businesses. and we ve got to make a direct link between the help that they re getting and them actually lending the money. that s goi to be critical. all right. who s next? yes, over here. hey, wendy. w are you? i am so honored i m so honored and delighted to be here, thank you.be you must be john s younger sister. yes, definitely. no, he s my kid brother. and i actually am the stringer in from boston with that hockey team you re meeting with this afternoon. there you go. i ve been looking forward to congratulating them. i would tell you just a little story, which is when i was in high school here at woodson high school, i got involved in historic preservation. and i worked on an archaeology d ....
Families because we understa people s incomes a wages have not gone up, kept pace with increases in health care and college and so forth. the second thing thator we felt was very important was to start creating some rules of the road again. so in financial services, for example, we passed a financial regulatory bill to make sure that we re not going to have taxpayer bailouts, make sure e a banks have to oper little bit more responsibly and take less risks with the money that they re investing. and we also made sure that consumers are treated more fairly, because part of what happened in this financial crisis was people were getting mortgages that they didn t understand. suddenly the bottom fell out of the housing market and banks found themselves in a crisis situation. so what we said is, let s make sure that consumers know exactly the kinds of mortgages they re getting. let s make sure that they can t be steered into these balloon-type payments where ....
Going to grow to the sky. lots of homeowners did like the bank, borrowed, didn t have the ability to pay. these rules will keep that from happening again. borrowed much more than the average person,li leveraging the ability t translate one dollar into many more is not only common in the banking industry it s what it s been built on in recent decades? it makes it work. they get you $10 and can do $100 in lending. that s okay. the problem, doing more than $100 in lending and using that money to buy things that were not the house of cards we were talking about. of cards. us what would you say in lay terms was the big accomplishment out of this meeting that took sw place in switzerland? everybody s on the same page, we need more capital. europe didn t want levels this high. the united states was one of the groups, countries, pushing for stnger regulation. so bank stock, up today. a part of that because the ....
Technologically wired economy unss we re winning that battle to msure our kids can compete. so what we ve said is we re going to put more money into higher education and k through 12. but here s the catch. the money is only going to go to those communities that are serious about reforming their education system so they work ll, because it s education is not just matter of putting more money into it. you also have to make sure that we ve got theac best teachers, that we ve got accountability, that the way we rer designing or schools help our kids actually succeed over the long term. especially in areas of math and science where we re lagging even further behind than we were a generation a ago. so those are the tngs that we ve gone trying to do over the last 19 months. now, as i said before, the economy is growing, but it s not growing as fast as we would like. so over te last week, i ve put ....