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This thread is in response to your post about "prohibiting American Samoans from putting their money in the international bank," not about the current banking s
by SamReidHughes 9y ago
This thread is in response to your post about "prohibiting American Samoans from putting their money in the international bank," not about the current banking situation.
- Lionsion 9y agoAgain, I said that sounds like it could be a reasonable trade-off. You have to balance... 1. the good of the theoretical possibility of getting a pittance more in interest from an international bank with 2. the social costs of not having a well-regulated local bank that will make loans in the community. If you totally ignore #2, you're going to make a bad policy decision. I think that's approximately what you're doing. My position is if the good from #2 is greater than the good from #1, discouraging community members from depositing their money in a distant bank over a local one is good policy.