After tanking the world economy and ruining the lives of many average joe's, and recieving trillions from the US government with barely any string attached, the Bankers of the US are complaining about the one regulation that will force them to make the tiniest change to the way they do business. Have more cash on hand.
The banks are still living in the pre crash mindset (see what I did their) that they can do whatever they want, like continue the policy where they can lend out so many times the amount of cash (or assets) they have on hand. So now when the government tells them they have to keep more cash on hand they start crying about how bad its going to get, for the small business man.
But the logic is off. A goldman Sachs op ed states, if banks are forced to hold more capitol, the result will be larger rates on loans, resulting harder times for the small business. If they talk about the hardship on the average joe than everyone will support their perspective.
But come on. Its bullshit. No one is forcing banks to raise rates. Banks are punishing small businesses on their own. Its like a 12 year old saying to their parents, if you don't raise my allowance i will beat up my younger sister. Who's fault would it be when the younger sister gets beat up?
These banks deserve a lot more oversight, regulation, rules and supervision, for without us, the great American taxpayer they would have died in bankruptcy.
The government should hit back and say for every rate increase you place on small business, we the government will place that tax on you, than a tax deferment would be given to the small business, to the right the wrong,