4 ms·
Maybe this is an unpopular opinion amidst the pitchforks, but do we not have better things to worry about at the moment? The system is inefficient and unfair,
by chris_va 6y ago
Maybe this is an unpopular opinion amidst the pitchforks, but do we not have better things to worry about at the moment?
The system is inefficient and unfair, great lets put it on the list of things to fix, but a ~3% fee is not world ending (unlike some other things) and seems like a low priority.
- vharuck 6y agoWe'll likely need to pipe more money into the system in the near future, so it makes sense to identify and plug some of the leaks.
- JSavageOne 6y agoHow is a 3% fee not outrageous when there is no work being done? If 3% of the $1,200 stimulus checks owed to individual citizens went to private banks, would you say it's not a big deal? (if so I hope you're not running for Congress)
- chris_va 6y agoApparently not, though given our current congressional representatives, are you sure that is a good metric to judge rational decision making? 3% is 3%. It's nonzero, so that's unfortunate. It's not a large fraction, so it's just not a time sensitive problem. Is it worth tying up media, political and financial resources in blaming+lawsuits over the optics of a 3% fee, instead of just waiting to deal with it next year? Your question implies that 3% of loan applicants get nothing because of this fee (which is inaccurate, since congress will just authorize more loans as long as it's politically convenient). As I said, it's unfortunate, but it's not world ending.
- JSavageOne 6y agoI never said it's "world ending", it's a problem, and we need to fix it. What a moronic thing to say "let's just deal with it next year". If the mafia was extracting 3% of federally guaranteed loan money, your response would be "it's not a big deal, let's just deal with it next year because we can just authorize more loans?" I hope you're never elected to public office.