Big Banks’ Further Market Consolidation — Further Aided by Big Government – Opinion

We’ve long been chronicling the US’s devolution into Big Government-Big Business fascism.

Revolving door: Big Govt and Big Biz Are Inextricably Intertwined

There’s So Much DC Cronyism – The Private Sector Wants It Against Government

Why did Big Tech become so big? Massive government cronyism

The recent government lockdowns and power grabs – imposed under the guise of the China Virus – have only hastened this ongoing, awful convergence.

Of course Big Pharma got bigger. They were being paid hundreds of dollars by the government. of billions of dollars to develop a vaccine — and many, MANY boosters — that don’t do what they were promised to do. We are forced to accept them by force.

World’s Largest Healthcare Companies 2021: Big Pharma And Insurers Profit Through The Pandemic

Big Pharma and Big State: A Neverending Story

This is how bigpharma wins

Big Tech has certainly gotten exponentially bigger – and engaged in massive market consolidation.  Because with We the People forced at government gunpoint to never leave the house — what else was there to do but waste away online?

Big Tech goes on a shopping spree and brushing off antitrust scrutiny

With a $560 Billion War Chest, Big Tech Goes on Pandemic Mergers & Acquisitions Spree Despite Political Backlash

Big Tech spent a lot of money in 2021 lobbying for and buying up competition

Oh: And of course the Big Government bureaucrats weren’t going to miss out on the Big Pharma-Big Tech profiteering their authoritarianism was going to make inevitable.

Congress Invests Big in Pharmaceutical, Tech Stocks – April 27, 2020

The past two years have been extremely good for Big Businesses. The crony generousity has not been lost on Big Banks.

Great Consolidation of Banks, Acceleration of Branch Closures Across America

“Branch closure rate doubled during the pandemic.”

2021: A golden year for bank consolidation

It must have been a REALLY good year for it to be “golden” — given the many great bank consolidation years that followed Big Government’s Big Bank-crony, 2010 Dodd-Frank law.

Dodd Frank Kills Small Banks and Chokes the U.S. Economy

Small Banks Are Strangled By The Dodd-Frank Act

Dodd-Frank Is Killing Community Banks

Why compete with small banks in the private sector – when you can easily out-lobby them in DC?

Now, after destroying the small banking industry, Big Banks want Big Government to pursue their last remaining competitor: payday lenders.

“A company that lends customers small amounts of money at high interest rates, on the agreement that the loan will be repaid when the borrower receives their next paycheck.”

These lenders serve people with very low incomes – and very bad or non-existent credit. To whom Big Banks will lend – NOTHING.

Payday lenders appeared in numbers only after the Big Government-Big Bank cabal succeeded in murdering the small banks – that used to lend to these low income-bad credit people.

Now, bipartisan DC wants de facto payday lenders for murder. Yes, embarrassingly, Republicans are also in on DC’s Big Bank game.

Would DC Republicans Please Stop Voting for DC Democrats’ Socialism?:

“The GOP’s DC assimilation continues (to reveal itself).  And some Republicans are bragging about it….

“‘Grothman Introduces Bipartisan Veterans and Consumers Fair Credit Act (VCFCA):

“‘Congressmen Glenn Grothman (R-WI) and Jesus “Chuy” Garcia (D-IL) today introduced the bipartisan Veterans and Consumers Fair Credit Act (VCFCA).’

“What is the VCFCA?  It’s a Socialist price cap bill. I.e. a rate cap on loans.”

Bad ideas never die – because governments keep re-imposing them.

It’s not as if we haven’t previously, repeatedly tried government price caps:

“Price caps are – as always, everywhere and for everything – a terrible idea.

“‘Price Caps Are a Bad Idea’

“‘Price Controls – Bad Idea Whether Temporary or Permanent’

“‘Capping Energy Prices? Still a Bad Idea’

“‘Cap and Trade Primer: Eight Reasons Why Cap and Trade Harms the Economy and Reduces Jobs’

“‘Health Insurance Price Caps a Bad Idea’

“‘Drug-Price Controls: Bad Idea’

“‘Why Power Price Caps Are a Bad Idea’

“Why?

“’Price Controls Cause Shortages:

“‘The imposition of price controls to deal with inflation is as illogical as would be an attempt to deal with expanding pressure in a boiler by means of manipulating the needle in the boiler’s pressure gauge.  It is no less self-destructive, as well….

“‘The one consequence of price controls that is the most central and the most fundamental and important from the point of view of explaining all of the others is the fact that price controls cause shortages.”

A shortage of payday loans and their lenders – is EXACTLY what Big Banks want.

Big Government wants to grant it.

Because why compete – when you can government eliminate the competition?

Even more is this of the fascism we are heading for.

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