Sent to CNBC
Show me the lack of money! It has suddenly occurred to me to do what I wolud do if I were a detective looking for evidence of the death of available money.
First I checked my own history history. When the brokers were trying to maintain the bubble that was making them rich, it was easy to get a loan. In fact we didn't even have to try. WE WERE CALLED. Nobody doing that no more.
Now you have to qualify. You have to call the bank (have you done that?) and ask them if they have money to lend. They will say yes...but you have to qualify.
So here's a news directors assignment for you. When you find those poor souls whose businesses are in danger of closing because they can't get any more credit ---- ask them how leveraged their business was when they started. Had they saved enough to keep the business open for a year even if nobody came. Did their business plan include a detailed study of the market, the location and the demographics of the area where they were going to open?. In other words should they have been granted a loan in the first place?
Before you discuss how dire the situation is find out why.
I expect to see the copy on my desk tomorrow morning.
AF
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