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Credit Crunch Squeezes Businesses
Posted on January 10th, 2009 No commentsThe credit crunch ranks as the No. 1 risk this year for businesses because of its extraordinary and direct impact, as well as its unpredictability, accounting firm Ernst & Young said in its 2009 business risk report. And according to the National Association for the Self-Employed, an estimated 3.7 small business owners hold “toxic” mortgages that are scheduled to reset at much higher interest rates. Read more in the Milwaukee Journal Sentinel
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WBA: Banks Wrongly Portrayed
Posted on January 10th, 2009 No commentsWisconsin banks have tightened up lending amid the financial crisis, but they’re not hoarding cash like Washington pundits charge, a panel from the Wisconsin Bankers Association said in a conference call with the media. Banks are “squeaky clean compared to the squishy segments in the mortgage investment industry with which they’re sometimes wrongly lumped,” the Green Bay Press-Gazette reported.