Bloomberg: Why would banks lend money when you want to put them in jail


Bloomberg: Why would banks lend money when you want to put them in jail

Bloomberg: Why would banks lend money when you want to put them in jail

Via: Meet The Press

MR. GREGORY: Can you explain how that impacts businesses? Because we hear it, it’s a conventional wisdom that a lack of leadership, uncertainty, means that businesses aren’t hiring. They’re making money, they’re doing more with less, and yet they’re not hiring.

MAYOR BLOOMBERG: Well, nobody has any confidence. If you’re a bank and you have money, would you make a loan when people are talking about putting you in jail for what happened in the mortgage crisis three, four years ago? You hunker down. If you’re a business, would you go take a loan and expand and hire more people when every day there’s talk about different regulation, different tax policy? Business has to know what it’s going to be in the future to plan because hiring people is a long-term commitment. If you’re an individual, would you go take that extra vacation, buy a new house and that sort of thing when you’re not sure whether Washington is going to do what’s right to keep job creation going in America? That’s the–in the end, it is confidence, confidence, confidence.

[image: exploredia]

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6 Responses to “Bloomberg: Why would banks lend money when you want to put them in jail”

  1. Isabel S - Florida says:

    Prison is the only option for these white-collar criminals. I say lock em’ up and throw away the keys!! When I think of all of the families they have destroyed with their illegal practices, it makes me sick. Their fraudulent crimes against humanity needs to be punished to the full extent of the law.

    Bank of America is the worst one of them all. I can’t wait for them to implode. The massive amount of racketeering that goes on in Bank of America is beyond words.

  2. Jylly Jakes says:

    Why are we continuing to call them banks? Lightly regulated hedge funds is more accurate. The so called “banks” don’t lend in the way most folks understand it. The hedge funds masquerading as banks broker credit. They put consumers and investors together via securitization and then move on. Mayor Bloomberg you know better than to draw puerile conclusions that banks are defensive because people want justice for the criminal actions they took more than three or four years ago and continue to make to this current day. Your thinly veiled politicking belies your immeasurable business acumen. We all know its an open secret that just a handful of ‘banks’ need to be restructured into true traditional banks and get the hedge fund parts spun off. Or let’s actually take a few to the woodshed all together.

  3. mary says:

    So, does this mean that the banks are threatening they will not act in a professional and fair manner in lending money if they are held accountable for any nefarious criminal, or fraudulent activity? That sounds really kind of “thuggish” and Mafia-like in tone??

  4. LookItIsJustAcampaignSmear says:

    Bloomberg is just a puppet! C’mon…he talks as if a bank is a person! They are an entity…and the only way an entity is going to make money is by lending it! Just because you throw a couple of criminals “of a bank” into prison, does not mean there “is not” someone standing in line behind waiting to take over the open CEO position! What friggin idiot!

  5. Bloomberg got rich off his wall street buddies…

  6. Get Real says:

    I never said jail. Why would we gift the pleasure of taking a vacation for a year only to get out and celebrate the ill-gotten gains. No just all assets and accounts seized. Plus, never to work in the financial industry again with a felony on record so it would be next to impossible to find a job.

    Do unto other as you would have them do unto you.


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