The decision not to bail out CIT has finally opened up the Obama administration to criticism that they are not doing enough to aid small businesses. According to the WSJ, critics complain the administration and lawmakers have bailed out major corporations but denied help to this small-business lender, unveiled a health care plan that will penalize small companies that fail to offer health insurance and been too slow to spread stimulus funds through Small Business Administration initiatives. The Wall Street Journal
This administration has not been helpful, and I’m being kind here, to small business. But I don’t think you can criticize them for not bailing CIT. I’m actually shocked that they didn’t bail them out and cite small business as the reason to do it. They deserve all of the criticism on the other issues, but not on this one. Let CIT work it out on their own.