Customer Quote by Michael Bloomberg
“The problem of dealing with the financial industry is being addressed today. You can measure it with interest rates coming down. You can measure it with the quantity of loans, and that sort of thing. The problem is, that nobody wants to take the loans. Once the banks are willing to give it, that's only half the problem.”
About This Quote
Source Speech: Financial Outlook, Michael Bloomberg, 2023
The financial sector faces a credit shortage; low interest rates and loan availability aren't enough if borrowers are unwilling.
In simple terms: Loans are plentiful but demand is low.
Key Takeaway
Address borrower confidence and demand.
Themes
finance
economics
credit markets
Mood
analytical
concerned
Type
economic
strategic
When to use this quote
- bank lending
- business investment
- consumer confidence
- policy making
Key Concepts
supply-demand imbalance
risk perception
Questions to Reflect On
- What drives borrower reluctance?
- How can lenders stimulate demand?
A Different Perspective
Improving supply without demand may not solve the issue.
![“You have to understand, we have better communications and better transportation, so people know what's available elsewhere and can get a message out, and you can move things. And you [can] say that the economy is more unpredictable.” quote by Michael Bloomberg](https://sms4smile.com/quotes/img-quotes/f66/michael-bloomberg-1293_available_you-have-to-understand-we-have-better-co_66574.jpg)
![“The system [in U.S.] is designed for a two-party system. And those two parties have an interest in keeping third parties out. There's too much of the structure that works in the two-party way. They will keep the third party out.” quote by Michael Bloomberg](https://sms4smile.com/quotes/img-quotes/162/michael-bloomberg-1293_interest_the-system-in-u-s-is-designed-for-a-two_74462.jpg)
