danb
dont be a dumbass
https://www.pagunblog.com/2018/04/10/bank-of-america-caves/
The headline pretty much says it all. Not much to add except: there was a reason the Treasury was so keen on bailing out banks. When there are a few big banks, its easier to control commerce and the financial system. Regulation keeps them big because the compliance cost is very high. The Treasury has them filling out TPS reports on "suspicious activity," which they can then use to punish political enemies .
ETA: By the way, banks are very good at structuring deals so that they can claim moral virtue, for example not directly lending in subprime, while staying in the business: https://www.wsj.com/articles/big-banks-find-a-back-door-to-finance-subprime-loans-1523352601
BoA wont directly lend to these companies, but sure as shit they will make sure that they lend to firms who do, while maintaining plausible deniability.
The headline pretty much says it all. Not much to add except: there was a reason the Treasury was so keen on bailing out banks. When there are a few big banks, its easier to control commerce and the financial system. Regulation keeps them big because the compliance cost is very high. The Treasury has them filling out TPS reports on "suspicious activity," which they can then use to punish political enemies .
ETA: By the way, banks are very good at structuring deals so that they can claim moral virtue, for example not directly lending in subprime, while staying in the business: https://www.wsj.com/articles/big-banks-find-a-back-door-to-finance-subprime-loans-1523352601
Banks say their new approach of lending to the nonbank lenders is safer than dealing directly with consumers with bad credit and companies with shaky balance sheets. Yet the relationships mean that banks are still deeply intertwined with the riskier loans they say they swore off after the financial crisis.
BoA wont directly lend to these companies, but sure as shit they will make sure that they lend to firms who do, while maintaining plausible deniability.