SmallBusinessNewz

Small business owners who are still having trouble getting loans may be happy to hear that the National Federation of Independent Business is doing its best to help.  This week, the NFIB sent a position paper on the issue to members of Congress and the president's administration.

The document, which is available as a PDF if you'd like to read through all 15 pages, outlined seven key recommendations.  The first is that "[f]ederal dollars should be made available to assist credit-worthy small businesses who cannot obtain lending in the current environment."  The second's more of a statement: "The 'too big to fail' doctrine is no longer acceptable."

Then there are a few lines specifically targeted at banks, including "[t]he systemic risk of financial institutions should be reduced by imposing strict limits on the amount of leverage financial institutions can take," "[c]apital requirements for financial institutions should account for varying degrees of risk across firms," and "FDIC insurance premiums should rise with the size and complexity of banks."

Finally, the NFIB claimed, "Fannie Mae and Freddie Mac should be privatized," and "[t]he Nationally Recognized Statistical Rating Organization designation should be eliminated, and credit rating agencies should adopt an investor-financed model."

Since UK-based small business organizations have been making such a fuss over the credit crisis (often releasing several statements a week each), it's nice to see something new from a US group on the issue.  Now we just have to see whether Congress and the administration listen.