Using banks as a distribution channel for loans plays to the banks’ strengths. Asking substantially all banks to spin up a new line of business in single digit weeks does not.
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“Hey are we going to get backstabbed if this goes pear shaped?” “Has any American administration, much less this administration, ever blamed its failures on in someone else? Come on, where’s your patriotism.”
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Unsurprisingly, Matt Levine smashed nail on head regarding reputational risk: https://www.bloomberg.com/opinion/articles/2020-04-03/small-business-bailout-makes-banks-nervous?utm_source=url_link …pic.twitter.com/UXC13Fqvig
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When was this other event?
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