dire news for small biz and employment going forward

http://www.bloomberg.com/apps/news?pid=20601087&sid=a_FhoI2A4ZsM small biz generate most of the employment in usa. advanta didn't even want to take the trouble of discriminating within sectors nor specific customers. it just cut off all credit from now on to all customers. amazing! "Advanta was the 11th-biggest U.S. credit-card issuer at the end of 2008 with about $5 billion in outstanding... [more]

http://www.bloomberg.com/apps/news?pid=20601087&sid=a_FhoI2A4ZsM small biz generate most of the employment in usa. advanta didn't even want to take the trouble of discriminating within sectors nor specific customers. it just cut off all credit from now on to all customers. amazing! "Advanta was the 11th-biggest U.S. credit-card issuer at the end of 2008 with about $5 billion in outstanding balances, and the only major lender focused on small business borrowers, Robertson said. " "Advanta Corp., the issuer of credit cards for small businesses, will shut down accounts for its 1 million customers next month and seek to pay off securitized debtholders early as the recession pushes defaults higher. " [less]