The banks just got 2+ trillion? Maybe even 4+. So why can't they loan out money? It's horrible or disturbing. Horrible if they are being greedy. Disturbing if that money was just to cover their own issues.
The reason they aren't giving out any more loans isn't because they can't, it's because they stopped giving loans to small businesses that aren't guaranteed by the government.
The normal Chase small business loan program has been halted so they can shift all the loss risk to the government.
Because the they didnt get any money to begin with. The big banks, Wells Fargo, Chase, etc, got shockingly small amounts of money while the smaller banks got the bulk.
The application process was a train wreck. They said funds would be considered first come first serve, so you if you got in early, you should be good to go. But that's not what happened. Actual small businesses, that are actually suffering were actually left out in the cold.
The banks just got 2+ trillion? Maybe even 4+. So why can't they loan out money? It's horrible or disturbing. Horrible if they are being greedy. Disturbing if that money was just to cover their own issues.
JP Morgan is evil.
The reason they aren't giving out any more loans isn't because they can't, it's because they stopped giving loans to small businesses that aren't guaranteed by the government.
The normal Chase small business loan program has been halted so they can shift all the loss risk to the government.
This, and the interest on 20m is a lot more than 50k.
Exactly
Because the they didnt get any money to begin with. The big banks, Wells Fargo, Chase, etc, got shockingly small amounts of money while the smaller banks got the bulk.
The application process was a train wreck. They said funds would be considered first come first serve, so you if you got in early, you should be good to go. But that's not what happened. Actual small businesses, that are actually suffering were actually left out in the cold.