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What happens when credit union fails? Because they do. Also chances of corruption and mismanagement are higher in them. If you talk about a united credit union,
by negamax 11y ago
What happens when credit union fails? Because they do. Also chances of corruption and mismanagement are higher in them. If you talk about a united credit union, that's essentially banking system. TBH, I don't understand the moaning against banks. They are providing a necessary service, how are they evil?
- serge2k 11y agoTheir fee system is regressive.
- ionised 11y agoWe had a financial crisis recently resulting from banks breaking laws and rigging the markets. This isn't the first time economies have gone to complete shit due to the extreme greed of banks playing fast and loose. They're destructive entities.
- negamax 11y agoLook at the economies with no to shallow banking systems. High and predatory interest rates, less money available for loans is least of their problems. No banking, no economy. Bitcoin solves the problem about inflation, access to money etc. But s booming economy also needs some sort of lending
- ionised 11y agoUnfortunately a 'booming' economy built on banking and finacial services doesn't seem to benefit everyone equally.