Denying your own child a $15K business loan just to placate your sadistic delusions perfectly describes the mindset of aging boomers. They're happy to watch their own children struggle for the opportunity to validate their ideology. They don't have enough empathy to help their own children, so it's futile expecting them to care about anyone else in society. They use tragedy of the commons situations to justify endless gluttony, and will act surprised when the next generation pisses on their graves.

Without knowing the personality of the child and the history of behavior, it is rather hard to determine whether the parent made the correct decision or not. The article provides very little context. Sometimes this may be the correct decision based on the individual. Every child is different and requires different approaches to discipline and support.

If a bank has determined the venture is probably doomed and won't loan the money, why should the parent support this doomed venture? People have idiotic business ideas constantly, way more frequently than they have good ones. On average denying such a loan is correct.