The president agreed to cut the spending by a significant amount. Now, would you like that negotiation had resulted from not having made that threat . Absolutely. But do you think it would have occurred . Theres the difference. I would never be one to advocate that congress should not increase the debt limit. They should. When this came up in the summer of 2011 i wrote that and they put that in the pages of the initial review. I was arguing against those who say lets look and creating a cash crunch. That is the wrong thing to do. Congress has the ability to decide what they want to attach to the legislation. That is appropriate for congress to attach spending cuts to that. If you give your teen kid a credit card and the kid blows through the credit limit. You dont stop paying the bill. You pay the bill. Those obligations have already incurred. You have on on by allegation to pay your bill. You dont let the kid keep the credit card and keep spending. You pay the past bills and you sit d
And find a solution. Among our guests, three men who understand washington, wall street and Corporate America very well. We have the chairman of president george w. Bushs council of economic adviser, ed lazear, roger altman, and real estate tycoon don peebles. But lets cover this mornings top headlines. We do have a lot in the corporate headlines this morning including Equity Residential and avalon bay communities agreeing to buy archstone from Lehman Brothers holdings. The price tag, about 6. 5 billion in cash and stock. The deal gives lehman cash to help pay its creditors as it liquidates. But it paid 22 billion for this company originally. So 6. 5 billion versus 22 billion, and you can see how lehman got into some of the problems it did. Also this morning, europe set to delay the introduction of stricter rules on bank capital. The eu reportedly prepare to go follow the United States while it lobbies for a reconsideration of the u. S. Stance. The delay could push back the start of ba
For. An sba lender will be able to make the loan with a guarantee that sba will be able to provide. We probably will about 225 sba loans this year. At any point in time, we have about 1500 loans in San Francisco that are sba loans. A lot of them are restaurants because that is one of the areas that is very typical because it is a riskier business. But a lot of people in San Francisco see that as an opportunity for them as well. We also partner with the Golden Gate Restaurant Association to help people understand how to do financing for restaurants. A lot of what we do is helping Small Businesses get access to credit. The sba loan Program Covers a range of small loans down to 25,000 and large loans up to 5 million, so it is a very wide range. Can be used for a variety of uses debt refinancing, building acquisition, working capital, so it can be used for a wide range of things from a Small Business point of view. As you heard, we do guarantees for about 90 or 100 banks in the country or
That will immediately give them a sense that you are not ready. You go to a bank and say, how much can i borrow . They will tell you, i do not know, but probably not from us. You need to know exactly what youre looking for, how you are going to use the money, and how you will be paid the bank. Part of the process is make sure you are prepared. The first thing you need to do is take a advantage of the resources that can help you develop your Business Plan and really be prepared to go to a lender. Being able to answer the questions you know that they will be asking is part of what we do as well. Im sure we will have lots of time for questions, but i will send it back to you. Director of the office of Small Business with the city and county of San Francisco. Again, i also want to thank congresswoman pelosi for hosting this event, and with her staff, and her leadership around all the work she has done supporting Small Businesses. Because she comes from San Francisco, and, by our definition
Eric former Deputy Assistant attorney Thomas Dupree will dig into all of it but we begin with rick leventhal. A stunning set of admissions in Lower Manhattan by a man who was one of the president s most trusted employees. He lied, paid women off he says to pay his boss. He walked out of the courthouse late yesterday free on 500,000 bond pled guilty to hiding income from his Taxi Cab Business and hiding debt to secure a Home Equity Loan and arranging payments to two women in the runup to the president ial election in coordination in and at the direction for a candidate to federal office to try to help him win. Mr. Cohen disregarded that training, that tradition and decided that he was above the law and for that he is going to pay a very, very serious price. He admitted he paid 130,000
to stephanie clifford, Stormy Daniels, because she was ready to go public with a claimed affair with mr. Trump. And he arranged to reimburse a tabloid to bury a story about Karen Mcdougal who also claimed