25 ms·
I was referring to financial companies higher up, like Visa and Mastercard. Banks implicitly have government protections and privileges. But in addition to tha
by apostacy 8y ago
I was referring to financial companies higher up, like Visa and Mastercard. Banks implicitly have government protections and privileges.
But in addition to that, the barriers to entry are extreme, to the point where they are essentially monopolies. And they are using their disproportionate powers to play politics.
- joshuamorton 8y agoWhat unique protections do they have that your company wouldn't have if you started a (regulation compliant) bank tomorrow?