We should not have banking concentrated in so few “to big to fail” banks. We don’t need banks that are this large.
Indict a couple of major bank CEO’s on criminal charges - maliciously, if necessary - and the rest will fall into line. This business with fines screws shareholders and doesn’t really get to the heart of the matter - scumbag CEO’s.
“Bad Bankers Are How Big Business Beats Small Business, But Congress Can Fix It”
I thought Congress was how big business beat small business, by crafting laws that strongly favor the former over the latter.
It’s a never ending cycle there in the swamp. The Congress creates a problem that then requires a fix. Their fix creates another problem and the cycle continues. The hole gets deeper and deeper.
1. The commercial bank representative in the group says that the single biggest problem her bank is facing with small business applicants is that the paperwork is rarely being done correctly. According to her, a company with a CFO is more likely to be approved than a company without one, and a company that doesn’t even use a CPA to help with the paperwork isn’t likely to be approved at all.
2. Another member of the group runs a private investment fund that had s commercial banking unit. He’s offering to lend money to businesses that are getting left out of the PPP process.
This is what happens every time the bloated bureaucracy gets involved with distributing funds.
By the time everyone takes their cut, there’s hardly any money left for the people it’s supposed to be helping.
The Best Years of Our Lives