David Eby’s latest harebrained idea is to issue zero-interest loans to businesses in British Columbia. 💸 He’s basically turning taxpayers into lenders — competing with commercial banks. 🏦 Two ✌️ problems: First, the province doesn’t have the money. It has to go to the bond market, borrow that money at 4.5%, and then turn around and lend it out at 0.0%. 🤯 That’s a negative-carry loan book. On $500 million, that’s $135 million in interest costs alone, over six years. 💰🔥 Then there’s default risk. Banks are professional lenders. They understand the number-one rule: lend money to people who will pay you back. Government lending has a very different track record. COVID loans had default rates exceeding 7% — 20x higher than what commercial banks typically experience. 📉 That same default rate would put another $35 million of taxpayers’ money in the furnace. 🔥 Add it together, and taxpayers are looking at a cost of $170 million — before administration costs. 🧾 Borrow at 4.5%. Lend at 0%. And taxpayers take the credit risk. 🎲 I guess David Eby is our banker now. 🏦 What could possibly go wrong? 🤷‍♂️