The real economy is losing businesses and jobs on Main Street while it waits for the banking system to heal. It's time for new banks, unencumbered by legacy credit issues, to provide liquidity to Main Street.

Main Street needs access to capital to grow and prosper. Without it, businesses will wither and die. Based on recent data, that's exactly what is happening. Corporate bankruptcy filings have soared to 125,000 and unemployment has risen to nearly 10% (17% including the underemployed). Clearly consumers are borrowing less and saving more putting pressure on revenues, but businesses are also having difficulty obtaining credit to support working capital, investment and refinancing. Since 2008, commercial lending is down more than 20% (down 12% among community banks with assets of less than $10 billion) and the recent Tarp oversight report indicates that small businesses are suffering disproportionately.

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