Tuesday, January 17, 2006

Post-Riot Loans

Tough choices for City Council. Do they forgive the loans or be strict? Is it fair to business who are making payments? I recognize several on this list of defaulted loans represent businesses that are no longer in business, which makes sense why the loans are defaulted.

I work with the businesses still in operation, but go after those out of business to make sure they did not just walk away with the loan money in their pocket. Bottom line I would write off most of the defaults. I don’t know how you encourage development with people if you punish them after they stayed downtown after a riot.

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