I think wavephorm makes a valid point. The government has been giving huge sums to the banking industry to bail it out, a fact. And a tiny fraction of that to entrepreneurs, also a fact.
If the US had more startup-friendly policies, you could imaging a $100B fund, still 1/40th of the banking industry bailout, that could have a huge positive effect.
Being aware of the disparity is the first step toward correcting it.
Giving or lending? I can't find accurate numbers. Much of the money was loaned to companies to weather the crisis. It had to be paid back. How would lending to a bunch of risky startups make things better? The govt should create an environment where it is desirable for entrepreneurs and investors to take risks.
Anyway, whining about the financial crisis and saying they got more is pointless. What is the best way to create a system in which startups can thrive? Guaranteed loans for everyone probably isn't the answer.
If I offer to buy something from you worth $1 and give you $100 for it do you consider that a $99 loan?
Yes TARP was paid back by the banks. The bigger problem is the highly overvalued junk assets the government assumed from them though. It's into the trillions and is being downplayed by the media.
No, because instead of saying this he just had a snarky remark. Exactly what financial issues of recent times is he taking issue with? The TARP bailout? The stimulus? Is he arguing that this project in and of itself would produce more benefit for the financial industry than entrepreneurs? I can't nail down his position because he didn't use enough words to explain his point.
Aside: Using "banksters" is like using "M$"; all it does is show everyone that you can't make your point without resorting to the maturity of a 5-year-old.
