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Liebor scandal may have cost families their home
Comments
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Banks have special privileges and the State is entitled to its quid pro quo.
What privileges do you have in mind?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Payment processing uses more than just the credit card companies.
Money transmission is a key element and bring in useful income..
Sure.
But my point was, you don't really need banks as we know them to do it.
The post office or any other number of private enterprises could be set up to handle transaction accounts relatively easily, where you deposit money with them and withdraw it from a visa debit card anywhere you like.
The real value of banks to the society is that they aggregate capital from millions of depositors and redeploy that capital to where it is needed in the economy.
Lending, in other words.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »The only useful purpose banks have is to lend.
If the senior managers running those banks can't or won't do that, then throw the book at them for any transgressions you can find, and get some new ones in that will do as they're told.
That's what is happening here, make no mistake about it.
Banks are (generally) private sector companies whose primary aim is to make money for their shareholders. This does not have to involve any contact with the great unwashed.0 -
HAMISH_MCTAVISH wrote: »
If the senior managers running those banks can't or won't do that, then throw the book at them for any transgressions you can find, and get some new ones in that will do as they're told.
Looks like Bob did as he was told and look what happened."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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