There were $349 billion dollars in loans sent out from the Feds to small businesses to help them through our analytic-induced coma now crippling the U.S. economy. However, the big banks, the bane of Main Street’s existence since about 2007 with their subprime, bail-out, and other interpretive shenanigans, stepped in and scooped up the loans for their biggest customers.
Many of the customers did not even have to do the loan paperwork — they just had to call. JPMorgan Chase, Citibank, and U.S. Bank approved the loans for nearly all of their big customers. Meanwhile the riff-raff small business folk struggled with convoluted forms, and netted a two out of 30 loan approval. That the money was never intended for the big guns was not an issue. Where there’s a loophole to exploit, count on the big banks exploiting away until the Feds catch up and try more regulation.You can’t regulate an amoral technician. They just find a way to get around laws for their own financial gain at the expense of others.
Other examples of amoral technicians? The mother in Illinois who turned her child over to a guardian so that she could qualify for financial aid. With zero income. that’s a sure thing. Then there are the Ivy Leagues who solicit applicants they know are not qualified in order to lure them into applying, thereby increasing your denominator (in the language of those health-care, plateau-seeking, now vaccine-seeking analytic experts). Increase the denominator and your acceptance rate us strikingly low, thereby enhancing exclusivity. It’s not real, but it does bring in the money. By donation or the back-door way through coaches paid to use their slots for the physically untalented of wealthy parents.
The ethical mind always asks, ‘What would happen if everyone did what I am doing, how would the world look? In the case of the bank, they all did it, there was no money left for small businesses, and they lost more business or trotted over to Chapter7 bankruptcy. ‘Tis a lovely world amoral technicians can create.