Regulators Criticize Banks For Lending Uber $1.15 Billion (venturebeat.com)

Federal regulators criticized several Wall Street banks over the handling of a $1.15 billion loan they helped arrange for Uber this past summer, reports Reuters, citing people with knowledge of the matter. From the report: Led by Morgan Stanley, the banks helped the ride-sharing network tap the leveraged loan market in July for the first time, persuading institutional investors to focus on its lofty valuation and established markets rather than its losses in countries such as China and India. The Federal Reserve and the Office of the Comptroller of the Currency (OCC), which are trying to reign in risky lending across Wall Street, took issue with the way in which the banks carved out Uber's more mature operations from the rest of the business, the people said.

Comments

Re:Make the banks take the risk when an driver hit

[MitchDev]

and THAT is the problem

Re:Hey look everybody!

[Mashiki]

Some of us just expect them to follow the same laws that cabbies are required to. You know like the same insurance that's required for a commercial operator. Vehicle inspections, CPR training and so on. You know, exactly the same things that were put into law because cabbies had such a terrible track record that it was killing people.

Yes, how dare people demand they actually follow the law.