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In the rush to become all things to all people the federal government has lost sight of its core responsibilities. As a result we're stuck in this frustrating paradox where Washington actually neglects things it's clearly supposed to be doing while interfering in other areas where they are neither welcome nor authorized.

Small- and medium-sized businesses need access to a diverse range of finance options including non-bank lending. These new forms of finance are still small in scale today but they should over time bring additional choice and greater competition to the lending market.