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Thursday Jul 29

Brooklyn Businesses Face Economic Crisis

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Written by Julia Paul Wednesday, 25 March 2009 18:45

The Obama administration unveiled a massive plan to buy up to $1 trillion worth of toxic assets to help repair banks' balance sheet.

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For the average person like you and me, this is yet another bailout plan aimed at only helping financial institutions largely responsible for the current economic mess. So what happened to the 99 cent store on your block, the hair salon on the corner, or the small grocery store? The government is obviously not going to bail them out, yet these small businesses are a big part of our daily lives. Community News Production Institute reporter, Julia Paul, visited several small businesses in Flatbush - all of them owned and operated by immigrants - to find out how they've been impacted by the economic crisis.