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Lionsion never mentioned charity, moral pressure, or subsidizing credit. Just as banks should have no moral obligation to make certain loans, neither should sp
by paulsutter 8y ago
Lionsion never mentioned charity, moral pressure, or subsidizing credit.
Just as banks should have no moral obligation to make certain loans, neither should specific jurisdictions have an obligation to allow large banks to displace local banks that may better serve their purposes, if they so choose.
You're both right as far as I can see. I don't understand what you're disagreeing with.
- refurb 8y agoDisplace? You mean by offering better/more service and taking customers from the local banks?
- roenxi 8y agoI'm not convinced they are in disagreement, they are both making related observations. A good public debate should feel out points of agreement between participants. A great way to grow a community is to take any excess resources (proxied by money) and reinvest locally. However, if all the members bank with a multinational bank then the money (hence resources) will probably end up in a city in another country. The community won't grow. If there was a systemic bias (beyond economies of scale) that favors big banks at the expense of community banks, that might squeeze the life out of small productive communities that the banks view as 'high risk' through a lack of knowledge about their circumstances. That would be a problem, but that issue is not related to this thread. If the foreign cities are just more productive, then hopefully the community members will be better off because they can import enough to make up for the lack of local infrastructure.
- paulsutter 8y agoWhile my view is close to yours, Samoa knows best what's right for them. Communities should have freedom too, not just individuals and corporations.