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Well they've gotten by with this archaic IT infrastructure with massive profits, so maybe they're onto something.
by dukeluke 10y ago
Well they've gotten by with this archaic IT infrastructure with massive profits, so maybe they're onto something.
- branchless 10y agoYes: usury to appropriate wealth. They have a monopoly on money creation.
- simonh 10y agoIf multiple banks can do this and they all compete with each other, and do so under governmental regulation, that really isn't a monopoly.
- kpil 10y agoActually, in EU almost anyone with a little bit of money could start a financial institute that would be able to lend money to people using real estate as security, backed by the central banks. The more complicated bank licence is needed to lend money from people. I'm not sure about U.S though.