Commercial loans or investments are necessary. For personal use, mortgages is the only normally needed product. Non-mortgage personal loans and overdraft agree

Commercial loans or investments are necessary. For personal use, mortgages is the only normally needed product. Non-mortgage personal loans and overdraft agreements are not necessities (and seems to invite poor financial management). The rest are insurance products, which are also on the nice-to-have list. However, loans and insurance are a tiny fraction of what the financial sector does. The vast majority of other products would go mostly unnoticed if gone. > Today it would be total chaos. Briefly, yes. Some things without real value would collapse. But I strongly believe that it would stabilize within the first year.