— the business owners in Ferguson, Missouri whose years of hard work were either stolen from them or went up in smoke literally as a result of the demonstrations following the grand jury’s decision in that city. While they usually have insurance, it will not cover all of their losses.
These entrepreneurs were innocent victims, unlike the banks whose grandiose financial mistakes were covered by our tax dollars in recent years. Not only would such federal aid be less expensive than the funds given to banks (who generally DID NOT make loans more accessible to small businesses as they were supposed to)1,2, but it would assist the very businesses from which much employment comes from in many smaller cities.
Here’s an opportunity for the federal government to help the little guy, the backbone of our nation, who certainly deserves the assistance.
1 – “Study: Bank bailout didn’t boost small business lending,” by Stephen Gandel, http://fortune.com/2012/11/14/study-bank-bailout-didnt-boost-small-business-lending/, 11/14/2012
2 – from “TARP: The bailout success story that wasn’t,” by David Weidner of MarketWatch, 2/12/2013