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You should be looking at borrowing from a bank. The Fed does not lend to individuals.
by 1123581321 7y ago
You should be looking at borrowing from a bank. The Fed does not lend to individuals.
- criddell 7y agoSo step one is "found a bank"?
- mraudiobook_com 7y agoCheaper to buy used. I was looking a few years ago and found a small credit union for sale for $150k.
- LoveMortuus 7y agoYou know what would be interesting? A Y Combinator or Hacker News bank. That would be interesting, but in reality probably extremely hard to realise... Still a fun and interesting idea to occupy your mind in this times of solitude.
- toomuchtodo 7y agoIt is incredibly hard to get a banking license. Easier to buy an existing bank. Banking regulators are also biased as to the type of banks they want to support, making it difficult to stand up a narrow bank. Consider finding opportunities to extract value from the existing banking system to achieve similar end goals. Maybe the Fed will lend to you if you can provide collateral they typically wouldn’t consider high enough quality? (Google “primary dealer lending facility”)
- pbourke 7y ago> You know what would be interesting? A Y Combinator or Hacker News bank DKSB - Dunning-Kruger State Bank
- hef19898 7y agoLike founding a bank instead of robbing one?
- jmalicki 7y ago"The Best Way to Rob a Bank is to Own One" - https://www.amazon.com/Best-Way-Rob-Bank-Own/dp/0292754183 https://www.amazon.com/Best-Way-Rob-Bank-Own/dp/0292754183
- Optimal_Persona 7y agoNow might be a good time to take another look at public banking: https://www.publicbankinginstitute.org/ https://www.publicbankinginstitute.org/
- deleted 7y ago[deleted]