Well said. I've always cringed when people say that (even though I am very liberal). You can argue that 8% is too high, you can argue that it's in the nations interest to give loans at 1-2% and accept that they will lose some money due to default, but the comparison to big banks is useless.

Also, big banks borrow at essentially 0% when talking about the Fed Funds Rate, which is for overnight loans.