Re:Small business rescue earned banks $10B in fees
by volak on Wednesday April 22, 2020 @12:35PM
(#22947389)
This program is vastly different from the 2008 bailouts. The banks collected a modest fee for doing work spreading money around to people who need to pay employees and rent.
In this situation the banks are simply a truck driver and small businesses are your local grocery store.
Im not going to fault the truck driver for asking to be paid to do work.
The 10B they collected was not from the government - it was paid by businesses applying for loans.
Re:Small business rescue earned banks $10B in fees
by toobigtoexist on Wednesday April 22, 2020 @12:53PM
(#22947595)
Except, if the truck driver consistently fails to deliver the goods, the truck driving company usually goes out of business. It is generally referred to as having actual skin in the game.
Re:Small business rescue earned banks $10B in fees
by volak on Wednesday April 22, 2020 @12:57PM
(#22947640)
There has been no general business failure during this crisis. The government is mandating businesses be closed and businesses and employees are suffering because of it.
If you are only talking about 2008 then yes - that bailout was fucking dumb
Doctors are not working for free, no, but they also didn't just vacuum up 10B of cash meant for patients either. Only the banking system has the tenacity and lack of shame to do such a thing.
> why should bank employees
I don't think anyone in this thread is talking about bank employees.