They've lost far more even with the fees they collected from this program.
As someone said above - doctors are not working for free, why should bank employees?
Are rank-and-file bank employees getting a big chunk of those increased earnings? Seems like both doctors and bank employees are simply continuing to earn their regular paychecks, as they should. It's the banks' shareholders that are making way more money for basically zero risk. And execs, who get paid mostly in stock. That's the problem here.
There is no increased earnings there is in fact very big losses. Which is another thing people tend to forget when discussing exec pay. The execs take a hit when business is bad, but the majority of employees continue getting paid.
Exec pay is high but you can't forget that much of the risk / responsibility should the business do poorly is on their heads not the majority of the workforce.
The worst outcome for any employee, exec or lowly serf, is the loss of their job. But it's far more devastating for a rank-and-filer to lose their job than for a highly-paid exec to lose theirs. So...no the majority of the workforce also takes on most of the risk should the business do poorly.
Doctors are not working for free, no, but they also didn't just vacuum up 10B of cash meant for patients either. Only the banking system has the tenacity and lack of shame to do such a thing.
> why should bank employees
I don't think anyone in this thread is talking about bank employees.
In this situation the banks are simply a truck driver and small businesses are your local grocery store.
Im not going to fault the truck driver for asking to be paid to do work.
The 10B they collected was not from the government - it was paid by businesses applying for loans.
Maybe someone else can describe technical blockers as to why the government couldn’t have done this. It seems mostly political.
Seems quite a small number, and easy to do from the tax-collecting databases.
