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View Diary: How to leave a bankster speechless (171 comments)

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  •  Plenty of bankers disagree (3+ / 0-)

    with this guy -- I'm not sure someone from Tennessee who has to go to one of these things is quite responsible for over leveraging his own firm, but what would have happened if he simply cited to some nonsense like community reinvestment act? He'd be wrong, but not speechless.

      As for taxes, in extending loans, as long as commercial or mortgage interest is tax deductible, the bank is getting paid before the government so all they'd care about is income, which is to say demand.  If he doesn't see this, that just means he's not a good banker or he doesn't work in the part of the bank that lends out money or he's an ideologue (but see point one) which can happen anywhere.  Want me to find you small business owners who would tell you taxes deter hiring even though they know it's lack of demand?  The good news is if they actually forgo hiring in a growing economy on that basis, they'll lose market share.  

    The only real way to tell who won the debate (on technical points) was to ask the little old lady to be the judge.  

    "This world demands the qualities of youth: not a time of life but a state of mind[.]" -- Robert F. Kennedy

    by Loge on Thu Sep 08, 2011 at 09:04:58 AM PDT

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