Larger customers will have relationship managers at the bank who guide them through the process step by step. Their customers likely even have their cell phone number so communication is good and low friction. With the support of accountants and lawyers who will have all information available to hand, I'm sure the application was a breeze.
The current crisis has been a real eye opener. Our entire government and economic system is bailing out corporations and preserving the wealth of asset owners at the expense of taxpayers and society. This should be a perfect opportunity for smaller companies to step in and win business from corporates who have engaged in monopolistic practices for years and engaged in excess risk taking. But that isn't being allowed to happen because corporates are judged as too big to fail. I find this whole system intolerable.
It feels like we need to add more restrictions against corporates. Restrict their ability grow via M&A, restrict executive compensation to a multiple of median income and stop them growing too large. I say this as a capitalist.
The current crisis has been a real eye opener. Our entire government and economic system is bailing out corporations and preserving the wealth of asset owners at the expense of taxpayers and society. This should be a perfect opportunity for smaller companies to step in and win business from corporates who have engaged in monopolistic practices for years and engaged in excess risk taking. But that isn't being allowed to happen because corporates are judged as too big to fail. I find this whole system intolerable.
It feels like we need to add more restrictions against corporates. Restrict their ability grow via M&A, restrict executive compensation to a multiple of median income and stop them growing too large. I say this as a capitalist.