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Old 07-08-2013, 04:23 PM
 
Location: SF Bay Area
12,287 posts, read 9,205,197 times
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Quote:
Originally Posted by zdg View Post
Explain how (you're right, but I don't think you know why). And then, answer my question. What would happen to interest rates now that the loans would not be guaranteed to small businesses that had qualified for them under a rigorous system you just abolished?
The rates would go up, because the government is no longer baking the loans with tax payer dollars. Ideally, less money would then be collected for taxes and private companies would lend and make money. If the rate is too high, another bank will lend at a lower rate until the market balances. Competition is good for everyone, except the US government.
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Old 07-08-2013, 08:26 PM
 
7,150 posts, read 9,990,911 times
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Quote:
Originally Posted by shooting4life View Post
The rates would go up, because the government is no longer baking the loans with tax payer dollars. Ideally, less money would then be collected for taxes and private companies would lend and make money. If the rate is too high, another bank will lend at a lower rate until the market balances. Competition is good for everyone, except the US government.
Right. Bankers never collude. They just operate in the best interests of society. Always. And they simply love to fund small business start-ups which are the well-spring of American entrepreneurial spirit and a great source of innovation.

Are you high? Seriously.
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Old 07-08-2013, 08:43 PM
 
Location: SF Bay Area
12,287 posts, read 9,205,197 times
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Quote:
Originally Posted by nullgeo View Post
Right. Bankers never collude. They just operate in the best interests of society. Always. And they simply love to fund small business start-ups which are the well-spring of American entrepreneurial spirit and a great source of innovation.

Are you high? Seriously.
Because the government is fair and impartial and does what is best for every day Americans.

I would rather bankers get rich than politicians.
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Old 07-08-2013, 09:02 PM
 
7,150 posts, read 9,990,911 times
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Quote:
Originally Posted by shooting4life View Post
Because the government is fair and impartial and does what is best for every day Americans.

I would rather bankers get rich than politicians.
Now that is a curious statement. What, pray tell, would be the difference, and basis for your preference? It is such a curious statement that you have thrown me off-track from commenting further about your utterly total lack of understanding of business -- and finance -- and the relationship.
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Old 07-08-2013, 09:15 PM
 
Location: SF Bay Area
12,287 posts, read 9,205,197 times
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Quote:
Originally Posted by nullgeo View Post
Now that is a curious statement. What, pray tell, would be the difference, and basis for your preference? It is such a curious statement that you have thrown me off-track from commenting further about your utterly total lack of understanding of business -- and finance -- and the relationship.
Because being a politician should be something you do to better others, not yourself. Being a banker or any other job is for a pay check.
Prime example is finestein's husband getting the hsr contract. The average wealth of US senators is over 2 million, not exactly a government of the people, by the people, for the people.

I understand business and finance, I choose to believe that government isn't the only solution to any problem like many here believe.
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Old 07-08-2013, 09:49 PM
 
Location: Boulder Creek, CA
9,197 posts, read 15,863,280 times
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Quote:
Originally Posted by shooting4life View Post
I understand business and finance, I choose to believe that government isn't the only solution to any problem like many here believe.
While both employ clandestine tactics for their own preservation, at least The People can vote for the players on one of those teams, and insist they at least pretend to play fair.
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Old 07-08-2013, 09:59 PM
 
Location: SF Bay Area
12,287 posts, read 9,205,197 times
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Quote:
Originally Posted by bigdumbgod View Post
While both employ clandestine tactics for their own preservation, at least The People can vote for the players on one of those teams, and insist they at least pretend to play fair.
What is worse, someone who doesn't play fair, or someone that lies to you, telling you they play fair, but never does?
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Old 07-08-2013, 10:02 PM
zdg
 
Location: Sonoma County
845 posts, read 1,872,979 times
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Quote:
Originally Posted by shooting4life View Post
What is worse, someone who doesn't play fair, or someone that lies to you, telling you they play fair, but never does?
How can you say the government never plays fair, especially in the case of the SBA? What has the SBA done that has hurt America, more than it has helped?
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Old 07-08-2013, 10:18 PM
 
Location: SF Bay Area
12,287 posts, read 9,205,197 times
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Quote:
Originally Posted by zdg View Post
How can you say the government never plays fair, especially in the case of the SBA? What has the SBA done that has hurt America, more than it has helped?
I'm not speaking specifically about the sba, but about government in general.

After a little research the sba has had it's fair share miss dealings.


The 1960s and 1970s were marked by numerous scandals and failures at the SBA, including the reported use of government loans to establish "front" companies for the mafia.11 By the mid-70s, the agency had earned the nickname "Small Scandal Administration."12

The SBA also became one of the government's chief instruments for pursuing "affirmative action," which has led to many abuses. Successive administrations have used the SBA to direct lending and federal contracts to minority-owned firms. Although stamping out discrimination is a laudable goal, the SBA's contract set-asides have instead bred corruption and abuse. For example, President Ronald Reagan supported an expansion of SBA federal contract set-asides to minority-owned firms. That decision contributed to the "Wedtech Scandal" in which government officials knowingly assisted a corrupt defense contractor that had fraudulently obtained contracts through SBA minority set-asides.
Terminating the Small Business Administration | Downsizing the Federal Government
More info on wedtech scandal
Wedtech scandal - Wikipedia, the free encyclopedia
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Old 07-08-2013, 10:40 PM
zdg
 
Location: Sonoma County
845 posts, read 1,872,979 times
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Well, I didn't suggest it was spotless. I'm saying you can't possibly look at the overall record and say the SBA hasn't been a gigantic help to a huge number of Americans, and that it hasn't done more good than harm.
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