Smoky Mountain News reports:
Supporters of Jackson County’s revolving loan program describe the financial give-outs as a tool in the county’s economic toolbelt, a boost to deserving businesses that can’t receive critical, even lifesaving, financial help through banks.
But five defaults since 1993 when the loans started, out of a total of nine loans, raises serious questions about the program. ...
Jackson has flat-out lost $525,000 since starting the program because of businesses folding. Another $420,000 is on the line, with the exact losses depending how much the county can recoup from selling off collateral. ...Read the full articleSubscribe to XpressMail. Free Sneak Peek. Every Week.
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What?! Government interference in the economy doesn't work? What do we do now?
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By timothypeck
02/02/2012
"Government interference in the economy doesn't work?"
If one ignores the past 100 years of governance, of course.
By bill smith
02/03/2012
Yes, now that "government" has created a tourism and employment driver for Jackson County in the form of the Great Smoky Mountains National Park, let's all sit back and kvetch about how ineffective "government" is. Left to its own devices, "the market" would have clearcut those mountains decades ago, and there'd be no economy in Jackson County to argue about. Mr. Peck is plainly disingenuous about this, and many other things.
By sharpleycladd
02/05/2012
Yes, now that "government" has created a tourism and employment driver for Jackson County in the form of the Great Smoky Mountains National Park, let's all sit back and kvetch about how ineffective "government" is. Left to its own devices, "the market" would have clearcut those mountains decades ago, and there'd be no economy in Jackson County to argue about. Mr. Peck is plainly disingenuous about this, and many other things.
By sharpleycladd
02/05/2012