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Jul 14, 2020
Quote of the Day
I will agree to put a cap on the profits of banks if they continue to make things difficult for citizens
-- MK Moshe Gafni, head of the Knesset Finance Committee
sounds like a recipe for making sure the banks all close. if they decide the profit cap is too small to make their business worthwhile, they'll just stop doing business. putting a cap on banks potential profits sounds like a move to socialism.
What do you think? Am I misunderstanding?
-- MK Moshe Gafni, head of the Knesset Finance Committee
sounds like a recipe for making sure the banks all close. if they decide the profit cap is too small to make their business worthwhile, they'll just stop doing business. putting a cap on banks potential profits sounds like a move to socialism.
What do you think? Am I misunderstanding?
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You are 100% right - the only cap on the profits of the banks should be competition.
ReplyDeleteI was very upset with moshe Kachlon. He came into the office of the Finance Ministry with a lot of promise, but didnt do much of anything significant. he tried to bring housing costs down with his mechir lamishtaken plan that many say was a failure. What upset me is that he campaigned on bank reform, but did nothing about it the entire 5 years or so he was Finance Minister. People were sure that if anyone could do it, it is Moshe Kachlon. And he never explained why not.
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