Sampling of quotes from some of our On Small & Middle Market Business supporters.
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On Small and Middle Market Business
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"There is an insufficient focus on small and medium-sized businesses. The main problem in this recession is joblessness. We have got a firm that focuses on small and mid-sized businesses. If the government wants a bang for their buck, I would put up the money to support CIT rather than something like AIG, which was almost a complete waste of money. This is an example of exterminating future green sprouts."
--Campbell Harvey, Professor of Finance, Duke UniversityCIT may not be 'too big to fail,' but they are systemically important." "Many small businesses will be severely impacted by today's actions, and the effect could lengthen the economic crisis."
--Scott Talbott, lobbyist Financial Services Roundtable
"CIT's unique ability to work with new entrepreneurs and small business owners trying to expand their businesses will be impossible to duplicate." "If our hard-earned tax dollars are going to be used to save financial institutions, we should use those funds to save firms like CIT that have a 100-year track record of helping those small businesses where most Americans work."
--Lloyd Chapman, president of the American Small Business LeagueAs other lenders cut back on small business lending over the past 18 months, owners of franchised businesses have fewer options for operating capital the group said. Business launches suffer too in times of tight credit. "Franchises are very important to the economy and CIT's failure could be a blow."
--Alisa Harrison, International Franchise Association spokeswoman"CIT's inability to meet its obligations could have ripple effects to those small- and mid-market borrowers who have CIT as their lender. It would be a disaster for them.”
--Eric Goodison, Corporate Finance Attorney With Paul, Weiss, Rifkind, Wharton & GarrisonA letter of support sent on July 16 to the Honorable Sheila Bair, Chairman FDIC, Ben Bernanke, Chairman Federal Reserve and Timothy Geithner, Treasury Secretary from Augustine Martinez, President & CEO of The United States Hispanic Chamber of Commerce (USHCC). Read Full Letter
