Business Leader: Obama's Job Plan is Only a Short-Term Fix

Jack Earle, Chair of International Franchising Association (IFA), says that Obama’s job creation speech did not address the long-term issues, such as businesses’ difficult access to credit which prevents them from hiring new employees.

Earle was invited to attend the President’s speech by House Speaker John Boehner. (1:35)

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Pelosi Touts Small Business Legislation

Speaker of the House Nancy Pelosi (D-Calif.) says she is pleased to announce the passing of the Small Business Lending Fund Act of 2010 which increases the credit available to small businesses . (0:58)
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Bernanke Gives Banks Go-Ahead To Loan

Federal Reserve Chairman Ben Bernanke says it is acceptable for banks to be loaning to individuals with good credit. (0:27)
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Credit card debt is like drug addiction?

By Kayleigh Harvey - Talk Radio News Service

At a House Judiciary Subcommittee hearing on “Consumer Debt: Are Credit Cards Bankrupting Americans?” Adam Levitin from Georgetown University Law Center said, “It is like drug use in this sense. There is definitely an addictive quality to credit...there is definitely are parallels between the way consumers use credit and what we see with addictive products.”

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Credit card debt and bankruptcy correlation

By Kayleigh Harvey - Talk Radio News Service

At a House Judiciary Subcommittee hearing on "Consumer Debt: Are Credit Cards Bankrupting Americans?" Adam Levitin from Georgetown University Law Center said, “There is nothing particularly surprising about high credit card debt correlating with bankruptcy. People who are in bankruptcy have debt. What is important to note is that debt, dollar for dollar, credit card debt has a much higher correlation with bankruptcy than any other type of debt.”

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Credit deterioration continues in the U.S.

First deputy managing director of the International Monetary Fund (IMF) John Lipsky says that credit deterioration is widening and deepening in the United States. He also says that economic policy makers will need to employ decisive and innovative measures to safeguard financial stability (:43)
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Dodd discusses credit card debt

Senator Christopher Dodd (D-CT) discusses credit card debt at CARD press conference. (0:37)
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