In a talk at the White House in December 2009, President Barack Obama argued: Ultimately in...

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In a talk at the White House in December 2009, President Barack Obama argued: "Ultimately in this country we rise and fall together banks and small businesses, consumers and large corporations." Why in this statement, did the president single out banks? Aren't supermarkets, airlines, software companies, and many other businesses also important to the economy? Source: Helene Cooper and Javier C. Hernandez, "Obama Tells Bankers That Lending Can Spur Economy. New York Times, December 14, 2009. A. Because banks channel funds from savers to borrowers, which makes them more important than other businesses. B. Without a healthy banking system, supermarkets, airlines, and other businesses would not be able to conduct business. Because more banks and small businesses failed during the recent financial crisis than any other business. D. Because banks were more responsible for the financial crisis than any other business. In a talk at the White House in December 2009, President Barack Obama argued: "Ultimately in this country we rise and fall together banks and small businesses, consumers and large corporations." Why in this statement, did the president single out banks? Aren't supermarkets, airlines, software companies, and many other businesses also important to the economy? Source: Helene Cooper and Javier C. Hernandez, "Obama Tells Bankers That Lending Can Spur Economy. New York Times, December 14, 2009. A. Because banks channel funds from savers to borrowers, which makes them more important than other businesses. B. Without a healthy banking system, supermarkets, airlines, and other businesses would not be able to conduct business. Because more banks and small businesses failed during the recent financial crisis than any other business. D. Because banks were more responsible for the financial crisis than any other business.

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The detailed answer for the above question is provided below The answer is B Without a healthy ba... View the full answer