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I think the point was that unlike a lot of situations many Americans find themselves in, when going up against a bank, Zuckerberg has leverage - not a lot of pe
by joelrunyon 15y ago
I think the point was that unlike a lot of situations many Americans find themselves in, when going up against a bank, Zuckerberg has leverage - not a lot of people can say that these days (there are a lot more average people applying for mortgages than there are Facebooks applying for IPOs).
- excuse-me 15y agoActually at the moment you are probably in a lot better position than the bank - you have money which you are prepared to lend them at a very low rate of interest. Similarly when you take out a mortgage - your interest is paying their salaries. It's a service industry and the bank manager is your servant. The only different these days is that you are probably in a much better financial state than the bank!
- joelrunyon 15y agoThey're only your servant if you actually take the loan. Up until then, it's still their money - and they get to do what they want with it. That's why it's hard to negotiate to start. Once they've given you the loan - it's a different story.