Venture Capital Firms Need Access to Government Coffers: Such Funding in the Past Has Had a Profound Impact on Job Creation and the Economy

摘要

Congress and the executive branch are working feverishly to resolve the biggest financial crisis since the stock market crash of 1929 and the Great Depression. Unfortunately, as Treasury Secretary Henry Paulson commented in the November 17, 2008, edition of The New York Times, "There is no playbook for responding to turmoil we have never faced." Enormous effort is being devoted to devising game plans for buttressing financial institutions, protecting home mortgagors, salvaging the auto industry, grappling with unemployment, and responding to whatever emerges as the next big issue. Probably over a trillion dollars will be spent in solving or trying to solve this crisis, although a good portion of these funds may be repaid to the government upon the return to normal times.