Through its Partnership in Assisting Community Expansion, for example, it provides loans at below-market interest rates to businesses if and only if those businesses create at least one job for every $100,000 loaned. If the $1 trillion that now flows to Wall Street instead were deposited in public state banks in all 50 states using this same approach, up to 10 million new jobs could be created. That would effectively end our destructive unemployment crisis.
He lost me here. Something that works at a small/sample scale, doesn't necessarily (and almost certainly) work at a large scale. There is a finite number of jobs in a certain economy (depending on its capacity and size). Providing more or less money doesn't help create jobs.
I'm sure it doesn't scale perfectly. However, it is not unreasonable to think that lending small businesses money can spur job growth. If you need that 100k to expand your shop and pay for a new hire to help, it totally can work. This is how capitalism and economics work in general. Someone borrows money to start/expand a business. They hire someone to work, that person makes money that they then spend at other businesses, which then gives those businesses more money to expand and hire. If lending money didn't create jobs, we'd be back with horses and wagons.
He lost me here. Something that works at a small/sample scale, doesn't necessarily (and almost certainly) work at a large scale. There is a finite number of jobs in a certain economy (depending on its capacity and size). Providing more or less money doesn't help create jobs.