3 ms·
My issue with it is that it's a fancy speech and nothing he's saying is necessarily wrong. He mostly correctly bashed a bunch of strawmen to great effect. Excep
by xster 6y ago
My issue with it is that it's a fancy speech and nothing he's saying is necessarily wrong. He mostly correctly bashed a bunch of strawmen to great effect. Except they have more or less nothing to do with what he actually wants, which is his ability to continue to re-securitize loans he makes until he gets to the ludicrous self-fund rate of 1.6% on the loans and offloading most of the risk to the rest of society while getting most of the gains.
Nothing he complains about are infeasible with Basel III's reserve rate of 8%. Peer to peer lending, ML analysis on spending habits etc, none of his "innovations" are inhibited by regulation. The only thing it's affecting is the profit.