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"But the fact that we place so much trust in them has systemic effects that are stifling to innovation" Large banks have a lot of money to buy influence; that'
by jonhendry18 8y ago
"But the fact that we place so much trust in them has systemic effects that are stifling to innovation"
Large banks have a lot of money to buy influence; that's the source of their systemic risk.
But you can do wire transfers at small banks and credit unions.
- darawk 8y agoYes, but even those small institutions are enormously careful with what they do, and are regulated heavily.