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Law Capping interest rates
newfarer
#2741 Posted : Thursday, March 14, 2019 8:08:59 PM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
bad news to me. korti bandia...how much were the judges paid ..kinoti haji some work for you there.hope someone will appeal against this ruling.
punda amecheka
murchr
#2742 Posted : Thursday, March 14, 2019 8:15:19 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
newfarer wrote:
bad news to me. korti bandia...how much were the judges paid ..kinoti haji some work for you there


Shouldn't be bad news, unless you opt to be a beggar all your life

"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
newfarer
#2743 Posted : Thursday, March 14, 2019 8:18:03 PM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
murchr wrote:
newfarer wrote:
bad news to me. korti bandia...how much were the judges paid ..kinoti haji some work for you there


Shouldn't be bad news, unless you opt to be a beggar all your life


given free hand in setting the rates, the greedy banks will make many beggars.what happens if MPs don't pass the amendments in the 12 months? will it automatically become effective without backing laws
punda amecheka
hardwood
#2744 Posted : Thursday, March 14, 2019 9:46:27 PM
Rank: Elder

Joined: 7/28/2015
Posts: 9,562
Location: Rodi Kopany, Homa Bay
Omtata to appeal...
alma1
#2745 Posted : Thursday, March 14, 2019 10:04:35 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
Let Omtata appeal if he wishes.

I am against any government caps on anything. I think you have seen my issue with farmers. But at the same time I still believe gov't should never ever be involved in pricing.

Even this issue of matatu pricing. I am totally against it.

Let the banks set their rates.

Thus far the CBK and gov't have been using the banks as their punch boys. Listen. Interest rates go up or down depending on gov't policy.

Since Kenyan gov't policy is either raira charo nefa mbe, Kibaki tosha and such nonsense we get lazy policy makers.

I really hate Kenyan banks. But I don't believe that gov't pricing has ever helped any economy. After all, who told you to seek a loan from Stanchart? Ni mamayako?


That's my view and I ain't changing it.
Thieves are not good people. Tumeelewana?

murchr
#2746 Posted : Thursday, March 14, 2019 10:18:02 PM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
alma1 wrote:
Let Omtata appeal if he wishes.

I am against any government caps on anything. I think you have seen my issue with farmers. But at the same time I still believe gov't should never ever be involved in pricing.

Even this issue of matatu pricing. I am totally against it.

Let the banks set their rates.

Thus far the CBK and gov't have been using the banks as their punch boys. Listen. Interest rates go up or down depending on gov't policy.

Since Kenyan gov't policy is either raira charo nefa mbe, Kibaki tosha and such nonsense we get lazy policy makers.

I really hate Kenyan banks. But I don't believe that gov't pricing has ever helped any economy. After all, who told you to seek a loan from Stanchart? Ni mamayako?


That's my view and I ain't changing it.


On those rare occasions when we agree. Laughing out loudly

The economy thrives where there's minimal govt regulation. I was really shocked by Macharia's statement about regulating Matatu fares! Ha!....Let the industry regulate its self. With little getting into Ma3s, competition might finally set that straight. Another option is those BRT buses he was bringing from SA - (thought they were to arrive in Feb) if they are cheaper than mats the price will normalize. Arm twisting management rarely works in a "free business" environment


"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
alma1
#2747 Posted : Thursday, March 14, 2019 11:43:32 PM
Rank: Elder

Joined: 9/19/2015
Posts: 2,871
Location: hapo
murchr wrote:
alma1 wrote:
Let Omtata appeal if he wishes.

I am against any government caps on anything. I think you have seen my issue with farmers. But at the same time I still believe gov't should never ever be involved in pricing.

Even this issue of matatu pricing. I am totally against it.

Let the banks set their rates.

Thus far the CBK and gov't have been using the banks as their punch boys. Listen. Interest rates go up or down depending on gov't policy.

Since Kenyan gov't policy is either raira charo nefa mbe, Kibaki tosha and such nonsense we get lazy policy makers.

I really hate Kenyan banks. But I don't believe that gov't pricing has ever helped any economy. After all, who told you to seek a loan from Stanchart? Ni mamayako?


That's my view and I ain't changing it.


On those rare occasions when we agree. Laughing out loudly

The economy thrives where there's minimal govt regulation. I was really shocked by Macharia's statement about regulating Matatu fares! Ha!....Let the industry regulate its self. With little getting into Ma3s, competition might finally set that straight. Another option is those BRT buses he was bringing from SA - (thought they were to arrive in Feb) if they are cheaper than mats the price will normalize. Arm twisting management rarely works in a "free business" environment




You will surprised. Agree with 80% of you and 60% hardwood.

I just don't like how you go about making your points. Getting boogeymen is not something I like.

I am a conservative liberal. I believe in status quo until I hear a point by point rebutall. That's why as much as I don't like gay people, I found out that hating them only makes my freedom to go with my maid worse.

Kapish..

Lakini, I'm hating these conservatives who are now in gov't. They are bad for our economy. As in the only alternative I have is David Ndii and he's also wrong.

We don't have economists in these stupid mpigs we voted in. Just look at the Brexit debate. If it was in Kenya Raila would have been on one side and Ruto on one side and you would have been f***ed either way. These guys are looking at sentences. Sentences. Coz at least their mpigs employ a wise man or woman and not gashungwas and gashugwalets.

Murchr

I really don't know what you do. But you guys have to get your shit in order and stop following Itumbi. He's just a diploma guy who can't write in grammar unless he uses a software.

We are in serious territory so it's time to get serious people.

A gov't that continuously ads regulation is the reason we have Trump. Every day a tax.

Forget and forget this war against corruption. No one is is above this as long as you are being taxed for bread and fuel.

I just had a viceroy...Hope NSIS has noted my comment. Who cares. I never lie and not paid. Just get good people who can think. I love the new Education CS for example.
Thieves are not good people. Tumeelewana?

tom_boy
#2748 Posted : Friday, March 15, 2019 7:52:36 AM
Rank: Member

Joined: 2/20/2007
Posts: 767
Interest rate caps should stay. So far I have not seen any tangible effect of the caps. Banks are still making super profits. Credit worthy people are still getting loans. Shida iko wapi?
They must find it difficult....... those who have taken authority as the truth, rather than truth as the authority. -G. Massey.
newfarer
#2749 Posted : Friday, March 15, 2019 7:57:17 AM
Rank: Elder

Joined: 3/19/2010
Posts: 3,505
Location: Uganda
tom_boy wrote:
Interest rate caps should stay. So far I have not seen any tangible effect of the caps. Banks are still making super profits. Credit worthy people are still getting loans. Shida iko wapi?

me too .if you are creditwothy you should not have problem with the cap..I have seen banks beg me to take loan with them. shida iko wapi?
punda amecheka
FRM2011
#2750 Posted : Friday, March 15, 2019 9:17:22 AM
Rank: Elder

Joined: 11/5/2010
Posts: 2,459
newfarer wrote:
tom_boy wrote:
Interest rate caps should stay. So far I have not seen any tangible effect of the caps. Banks are still making super profits. Credit worthy people are still getting loans. Shida iko wapi?

me too .if you are creditwothy you should not have problem with the cap..I have seen banks beg me to take loan with them. shida iko wapi?


Allow me to give you a situation on a specific industry. I know a thing or two about long-distance trucking. 5 years ago, banks were falling over themselves to finance customers in this industry.

The trailer part of these trucks are locally built. At some point around 2013, Bhachu & Randon who are the market leaders had a 4-months waiting period for orders. Smaller players expanded to fill in the gap. Load trailers, Ocean trailers, Hans trailers, Trans-trailers, TTL, Supa trailers e.t.c. These were employing 1,000s of artisans to fabricate the bodies.

Since the rate capping, only Stanbic and NIC are willing to finance trucks and they cherry-pick the very best customers. Equity, KCB, coop, Barclays and Stanchart don't even look at asset finance applications after the rate cap. As financing dried, these body-builders retrenched massively. Today, you can walk into Bhachu and they start working on your order tomorrow. Business is that bad.

No other president would have signed this bill. Even Moi, daft and crooked as he was, refused to sign. Only Uhuru could.
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