Banks should lend more, says Obama
Published:Tuesday | December 15, 2009 | 9:19 AM
US President Barack Obama has told some of the country’s top bankers to increase loans to small and medium-size businesses.
President Obama made the charge at a meeting with Bank Executives from institutions such as Goldman Sachs, JP Morgan Chase and Citigroup.
Following the economic crunch in the US, the Obama administration gave $700 billion in a bail out to the banking industry.
President Obama said US banks have received extraordinary assistance and has demanded that they make more loans available to stimulate activity to help rebuild the economy.