The question: How much was credit being funneled away from all other sectors in the economy? The answer: Very little if any. Neither the general consumer lending: nor the specific Real Estate lending: appears to run in a different direction that Business Loans, except possibly, in the latter case, in late 2003 and early 2004. […]

rdan H/T Naked Capitalism for this New York Times article concerning the loan program established in May to help small businesses as part of the stimulus program. With $255 million, the program is prepared to make about 10,000 loans of up to $35,000 each. As of Monday, the agency reported that only 1,127 loans, totaling […]