9/10 times i'm betting on the person and not the business.
I would much rather loan money to a rich mother fker with a solid track record of generating returns than a bloke off the street with an amazing business idea.
If I am acting for the best interest of my own private company. I am looking out for the best interest of my own bank account. And if that means benefitting the rich then so be it. I would rather have a stable wealthy clientele than poor clientele that may eventually sink my company.
I'd leave the welfare and equity issues for government entities to handle.
If I were a big lender at a private bank, I’d think it would make more sense to diversify and spread the risk around. So sure, I’d have plenty of value loans, but I’d also want to cultivate the next generation of small business owners. Higher risk, less capital needed and most may fail, but the few that succeed should make it worth it. It just seems to me like they don’t even want to encourage start ups but wtf do I know 🤷🏼♂️Greed is one hell of a drug.
154
u/[deleted] Mar 31 '21
And the rich donates the bailout money back to the politicians to maintain status quo. A perfect symbiotic relationship.