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I wish Apple hadn't selected the Vampire Squid[0,1]. Are there any ethical financial services providers? EDIT: Service providers at scale, I mean. It's a serio

I wish Apple hadn't selected the Vampire Squid[0,1]. Are there any ethical financial services providers? EDIT: Service providers at scale, I mean. It's a serious question. Would you trust Wells Fargo? Bank of America? These criminal organizations get a cut of nearly everyone's transactions. There needs to be an alternative, and it's too bad a company with the resources that Apple has can't or wont do better. [0] https://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405 https://www.rollingstone.com/politics/news/the-great-america... [1] https://www.forbes.com/sites/jakezamansky/2013/08/08/the-great-vampire-squid-keeps-on-sucking/#25432a5e7df8 https://www.forbes.com/sites/jakezamansky/2013/08/08/the-gre...

dbasedweeb 8y ago
No, at a certain scale they’re more alike than not. GS is notably heinous because of their absurd scale, they’re not unique in terms of approach and ethics. At the scale Apple needs, all of the “good guys” were long since ground to chum; you don’t get that big in financial services, ethically.
- whoamiidontknow 8y ago
  On the contrary they have little or no presnece in the consumer area they only deals with institutions. It seems to me they are insignificant in this space.
  - clintonb 8y ago
    Goldman Sachs has a consumer presence: https://www.marcus.com/us/en https://www.marcus.com/us/en
    - 49bc 8y ago
      This is GE capital, which they purchased for this purpose and seems to be the arm they’re using with Apple.
      - clintonb 8y ago
        I realize this is a late reply. GE Capital was a loan organization. Marcus also offers checking and savings accounts, which were built in-house at Goldman Sachs. I interviewed for a job to work on the project.
  - stu432 8y ago
    Well yeah, they only got the license to get their hands on the bailout money [1]. They must think they're going to make some serious money off this, as they had no real appetite to get into retail any other way. [1] https://www.theguardian.com/business/2008/sep/23/morganstanley.goldmansachs https://www.theguardian.com/business/2008/sep/23/morganstanl...
deleted 8y ago
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dbasedweeb 8y ago

No, at a certain scale they’re more alike than not. GS is notably heinous because of their absurd scale, they’re not unique in terms of approach and ethics. At the scale Apple needs, all of the “good guys” were long since ground to chum; you don’t get that big in financial services, ethically.

whoamiidontknow 8y ago
On the contrary they have little or no presnece in the consumer area they only deals with institutions. It seems to me they are insignificant in this space.
- clintonb 8y ago
  Goldman Sachs has a consumer presence: https://www.marcus.com/us/en https://www.marcus.com/us/en
  - 49bc 8y ago
    This is GE capital, which they purchased for this purpose and seems to be the arm they’re using with Apple.
    - clintonb 8y ago
      I realize this is a late reply. GE Capital was a loan organization. Marcus also offers checking and savings accounts, which were built in-house at Goldman Sachs. I interviewed for a job to work on the project.
- stu432 8y ago
  Well yeah, they only got the license to get their hands on the bailout money [1]. They must think they're going to make some serious money off this, as they had no real appetite to get into retail any other way. [1] https://www.theguardian.com/business/2008/sep/23/morganstanley.goldmansachs https://www.theguardian.com/business/2008/sep/23/morganstanl...

deleted 8y ago

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