Small Business Act of 1950 : Hearings Before the Committee On Banking And Currency, United States Senate, Eighty-First Congress, Second Session, On S. 529 [and Others] ..

Cover Small Business Act of 1950 : Hearings Before the Committee On Banking And Currency, United States Senate, Eighty-First Congress, Second Session, On S. 529 [and Others] ..
Small Business Act of 1950 : Hearings Before the Committee On Banking And Currency, United States Senate, Eighty-First Congress, Second Session, On S. 529 [and Others] ..
United States. Congress. Senate. Committee On Banking And Currency
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Mr. Considine. Yes.
The Chairman. The House cut it $600,000 and you asked that it be restored ?
Mr. Considine. That is right, sir.
The Chairman. Now I understand you might get by with $300,000.
Mr. Gunderson. I doubt it.
The Chairman. Well, you better talk to somebody about that.
Mr. Gunderson. I would appreciate it if we cleared that up.
Senator Benton. Is that rate of earnings going up ?
Mr. Gunderson. Going up.
Senator Benton. What is your comment on our private financial institutions in thi
...s country today that have permitted us an oppor- tunity to open up a Government corporation aole to earn $560,000,000 in 18 years ? How many banks in the United States have earned that much money in the last 18 years ?
Mr. Gunderson. Very few but there is this difference : We do not have to pay any income taxes ; we are not subject to review by the comp- troller of the currency, FDIC, the Federal Beserve Board, the State supervisory authority — I am not being critical but I think that the banks by and large go about as far as they are permitted to go in making loans.


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