An extension for the TARP bailout program could come to small businesses and community banks. Small businesses and community banks have less money and assets so the credit and housing problems are dealing a harder hit on them. Consumers defaulting on commercial real estate, construction, and mortgage loans are more of a powerful blow to these smaller institutions than larger banks and businesses and many feel these small businesses and community banks deserve as much help as the larger institutions that are responsible for the current state of the economy.
Community banks are in greater need of aid than the larger institutions, some say, but there are concerns over the new TARP bailout for these small institutions. For one, many want the TARP bailout program ended by the end of the year but if the bailout for small banks and businesses were to take place, the TARP would have to most likely be extended for an undetermined amount of time. Also, with only $73 billion of the original $452 billion being paid back from the bailout many worry that more money given to these smaller institutions would be even less money expected to be given back.
Despite the mixed ideas on the extension of the TARP bailout the community banks would definitely benefit from assistance in the face of home mortgage defaults and other various losses. If individuals want to avoid helping banks make more money then they should not take out loans. For those in the south it might be a good idea to look for Craigslist Charlotte Used Cars for Sale as a way to avoid getting a loan at a car dealership. This is just one way to start the process towards financial independence.