the severed his third district is responsible for a business loan portfolio of 12,000 loans worth $4.2 billion. in 2009, the sba approved $500 million in lending. next, we have the executive director of the san francisco small business office. she was in san francisco in 1986 to open the buffalo exchange limited store, and in the 13 years she worked for buffalo exchange, tennis district manager, she held her open the company from four to 11 stores. in 2009, the mayor appointed her as executive director to the office of small businesses. next, we have the ceo of opportunity funds. he has combined his background as a community organizer with an education from stanford to develop an innovative, not-for- profit financial incision that uses market principles to affect systemic change. it operates one of the nation's largest individual development, programs, a leading provider of micro loans in california, and has a robust community real estate finance unit. next, we have the ceo of ne community federal credit union. since 1988, she has been the ceo of northwest community federal credit unio

smaller banks to a much greater job of supporting local economies and have a broader portfolio of loans to small businesses. almost four times the amount of these banks that have $4 trillion in assets. how can we figure out, as a city -- and this is something that is being grappled with at the state level -- how can public entities use their public dollars in a way that will help stimulate the local economy, and greater accountability for our financial institutions? that was the purpose of asking for the report from the legislative analyst. with the feeling out in the street, occupy wall street, occupy sf, oakland, all the other cities around the country where this is going on, we do not feel like we have been bailed out. main street has not had its bailout. fillmore has not had its bailout. mission street had not had its bailout. how can we create the conditions to support small property owners and local business owners here in san francisco with public dollars? in the southern part of san francisco, including my district, district 10, to some extent, district 4, we have high rates of foreclosures. last w

. >> if you look at portfolio of loan guarantees provided, this is doing well, what we've understand is that not every visit is go -- business is going to succeed in clean energy. >> abc 7's political analyst says information show administration staffers did not do their jobs. >> this is enough evidence that this is a dicey deal and could implode and embarrass the president. there is evidence to have canceled this trip or taken steps to terminate the deal. and they just didn't do it. >> and house democrats say they did it so show there was a debate about solyndra. >> and republicans are optimistic about the 2012 election. and a new news washington poll shows most americans think president obama will be a one-term president. the survey finds 55% of all voters think a republican will win including 83% of republicans, 54% of independents and 33% of democrats. and this survey questioned just about a thousand people. and just 367% of all voters expect the prz to win reelection, including a majority of democrats. >> a movement to protest greed on wall street is entering its third week and keeps growing and expanding. thousands hav

because if you look at the overall portfolio of loan guarantees that have been provided, overall it's doing well and what we always understood was that not every single business is going to succeed in clean energy. but if we want to compete with china, which is pouring hundreds of billions of dollars into this space, if we want to compete with other countries that are heavily subsidizing the industries of the future, we've got to make sure that our guys here in the united states of america at least have a shot. now, there are going to be some failures. >> you were getting warnings not to back that company up. >> hindsight is always 20/20. >> reporter: e-mails released show there was a fierce debate inside the white house at the time over whether this program really did make sense. >> we'll be watching for more in the morning on "good morning america." thanks, george. >>> as we said, george helped launch today a big new chapter. we at abc news teaming up with yahoo! to help inform you and the 100 million people who count on yahoo! online to bring a dynamic new delivery of the news including exclusive content and interviews like the one george brought us with p

if you look at the overall portfolio of loan guarantees provided, overall it's doing well. and what we always understood was that not every single businessto succeed in clean energy. but if we want to compete with china, which is pouring hundreds of billions of dollars into this space, if we want to compete with other countries that are heavily subsidizing industries of the future we have to make sure our guys here in the united states of america at least have a shot. there are going to be some failures. >> you were getting warnings not to back that company up, not to visit? >> hindsight is always 20/20. >> hear the president describe himself as an underdog. made an interesting comment a few weeks ago, my chances of getting re-elected in 2012 are better than my chances of being elected in 2008. an interesting point. >> used to being the underdog. maybe he likes that position. we'll see. >> all plays out. shifting gears -- controversial comments from country singer hank williams jr. may have resulted in a change in last night's monday night football broadcast. espn, our sister network, actually, pulled williams are you ready for some foot

because if you look at overall portfolio of loan guarantees that have been provided, over all, it's doing well. and what we always understood was that not every single business is going to succeed in clean energy, but if we want to compete with china, which is pouring hundreds of billions of dollars into this space, if we want to compete with other countries that are heavily subsidizing the industries of the future we've got to make sure that our guys here in the united states of america at least have a shot. now, there are going to be some failures. bill: all right, now senator jim inhofe, republican from oklahoma and the environment and public works committee, good morning, i want to share with you what we found out from our fox polling a few days ago. we asked the following question directly related to this story, was it unethical behavior orba faith in a loan that went bad, 46 percent to 46 percent, sir, which category are you on? >> i'm on the 46. first of all it's very bad. i mean, it reminds me a little bit, bill, back in 1998, when the loral corporation, headed up by bernard schwartz was the largest contributor to bill clinton, then bill clinton in t

loans from lenders portfolios. nafcu members have requested the sba address this and would help the small business committee will beable to help as well. at corning credit union we are and improve sba lender. we're fortunate we have hired an experienced sba lending officer with knowledge of the system to help run our program. still one of the hurdles we see is that our local sba 7a loan applications are sent off to national offices for review by underwriters who do not understand our local economy. this in personal step as time to the approval process for the small business owner. furthermore the lack of having local sba underwriters to interact with, they discourage those lenders who don't have the expertise we do on their staff. this makes it harder for those institutions that may want to the sba loans, but would only have limited volume that doesn't justify hiring an in house sba expert. as a result some credit unions in this situation may opt not to get involved in sba lending at all. there is a way this concern can be addressed. nafcu supports the reintroduction of the credit union small business lending act.

portfolio, our overall default rate peaked 14 months ago. >> uh-huh. >> and now it is improving slowly as those loans have passed through -- >> so the stabilization businessesasically, went belly up? >> >> well, actually, the new i loans are defaulting. they're early. but they are defaulting at a much, much lower rate. >> uh-huh. >> measured by, from their or months from inception, then the loans from those previous cohorts. so we anticipate that this improvement will continue. we also know that credit scores on our current portfolio of loan made in recent years are much stronger. >> okay. you'd mentioned that there is a commitment of $20 billion in commitments from the larger banks. how much of that's been loaned out? >> we made the announcement on this three or four weeks ago, so probably not very much yet, but it's coming. >> okay. you know, looking through your written testimony you seem to give a tip of the hat to the president in regards to the $467 stimulus and indicated that it was paid for. my concern is and a lot of our constituents' concerns that are small businesses is it's being paid for on the backs of businesses that are currently struggling

loans from the portfolios. few members have requested that the sba address this deficiency and we hope the small business committeel be able to help as well. at corning credit union we are an improved sba lender and fortunate that we have hired an experienced sba lending officer now to assist on the program. still, one of the hurdles that we see is that our local sba 7a applications are sent to national offices for review by underwriters that do not understand the local economy. this in personal step adds time to the approval process for the small business owner. furthermore, the lack of having a local sba underwriters to interact with and they discouraged the lenders who do not have the expertise we do on their staff. this makes it harder for those institutions that may want to do sba loans but only have limited volume that doesn't justify higher house expert. as a result, some credit use in this situation may have not yet to get involved in sba lending adel. there is a way that this concern can be addressed with the for the injured and some of the credit union small-business lending act. this bill would make it

august, 2008, of our portfolio, our overall default rate peaked 14 months ago and now it is improving slowly as those loans have passed through. cynics of the stabilization of the businessis basically bill yep? >> actually the new loans are defaulting early but they are defaulting at a much lower rate measured by their month from inception than the loans from the previous cohorts, so we anticipate the improvement will continue. we also know that credit scores on the current portfolio of the loans made in recent years are much stronger. >> okay. you mentioned there is a commitment of $20 billion in commitments from larger banks. how much of that has been loaned? >> we made the announcement on this three or four weeks ago. so, probably not very much yet but it's coming. >> okay. looking for your written testimony, you seem to give the tip of a hat to the president in regards to the $467 million stimulus and indicated that there was paid for. mauney concern and a lot of our constituents concerns that are small businesses is is being paid for on the backs of businesses that are currently struggling in terms of increased tax rates. could you speak to that? >> we are talking