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you're downvoted (i upvoted) but what you're saying is completely true. everyone that downvotes is one of those "well akcshually..." people. it's plain as day t
by throwlaplace 7y ago
you're downvoted (i upvoted) but what you're saying is completely true. everyone that downvotes is one of those "well akcshually..." people. it's plain as day that it's true even if it's not formally true. the formal rules of governance and policy are manipulated to make it so. it doesn't not mean that it isn't so. the old adage that there have always been things that were legal but immoral/unethical applies. longer you bury your head in the sand (people that dissent without any substantive response) the longer we will be mired.
here's an example: do you all realize that the banks providing these loans are being paid essentially commission [1] for making the loans? anywhere from 1% to 5%? 5% on 500B is 25B in the pockets of bankers. why?
[1] bottom of the page here under PPP incentives https://www.chapman.com/insights-publications-SBA_Paycheck_Protection_Program_CARES_Act_COVID-19.html https://www.chapman.com/insights-publications-SBA_Paycheck_P... . and if you think covering "processing fees" isn't commission then ask yourself as a programmer why it's not a flat incentive? does it cost more to process the paper work for 100k loan than a 10k loan?
edit: what in the fuck am i getting downvoted for? i have a literal citation of a tax attorney. i'm not editorializing or taking anything out of context or whatever. it's right there:
>the SBA will reimburse lenders for PPP loan processing fees, based on the disbursed loan amount: 5% for PPP loans up to $350,000; 3% for PPP loans greater than $350,000 and less than $2 million; and 1% for PPP loans of $2 million or more
what could you possibly disagree with here??? jesus christ forgive me if your naive understanding of the world doesn't reflect reality.
- Karunamon 7y ago>it's plain as day that it's true even if it's not formally true What does this mean? It's either verifiably true or it is not.
- throwqwerty 7y agoi don't understand this response. are you truly unaware that the truths of many policies are "verifiable" but not practically verifiable until many many years after they are implemented. again - this is the whole point of the study of history.
- Karunamon 7y agoCould you give an example?
- dang 7y agoObviously it isn't legit to use multiple accounts like this. I've banned this one. If you don't want to be rate limited on HN, we're happy to take off the penalty whenever anyone sincerely wants to use HN in the intended spirit. If you keep breaking the site guidelines with your main account, we're going to have to ban that as well. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html