TheRealMafoo said:
SciFiBoy said:
define "right mind" if you mean wether or not theyre intelligent, then you were calling them idiots, if you mean "right-wing mindset" then fair play but that means youre spoke out of context.
Obama is imposing higher taxes on the financial sector? yes? thats a good thing, makes the people repsonsible for the crisis pay the price and a fair share given that they earn 75x the average wage or something daft like that
Obama wants to make the banks lend again? again this is a good thing, more lending will help mortgage holders and small bussiness get through the hard times
Obama wants more regulation? yet again this is a good thing, means that the new lending is done sensibly and does not involve large risks, that way the financial sector is secure
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By right mind, I mean a good way of thinking, not right or left.
And where did Obama raise taxes on the financial sector?
As far as making banks lend...
Here is the problem.
Banks want to lend. They just only want to lend to people who will pay the loans back. Right now, it's hard to know who that is. Bankers are smart. They don't throw good money after bad. What Obama is trying to do, is say “give more small businesses loans even if they are high risk, and if it fails, we will pick up the bill”.
The reason banks won't loan these small businesses money, is because they will fail. Banks have people who look over the business plans, and understand a good one from a bad one.
Why is it a good idea to fund a bad one?
This is what happened in the housing industry. Banks did not give loans to people who were likely to not pay them back. Government made those loans profitable to Banks, so Banks gave them out.
The same thing will happen with small businesses.
Explain to me why this is a good idea?
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if banks wanted to lend responsibly, how did we get into this mess? (may be different in the US, im in the UK)
at no point did i say they should lend to bad bussiness
i think housing should be dealt with by the government buying up empty homes and renting them to people
if the banks dont lend at all then no-one can get a home and no bussiness can stay afloat, so you have mass unemployment and homlessness
bankers and not all geniuses, if they were, we wouldnt be in this mess
