3 ms·

I find it strange that people trust the banks with their money, given their history and their behavior.

• leetcrew 5y ago
  what's the alternative? there's a small risk that the bank screws me at some point, but if I don't make some kind of positive EV investment with my savings, it's a near guarantee that I'll never be able to retire.
• onlyrealcuzzo 5y ago
  Deposit insurance? https://en.wikipedia.org/wiki/Deposit_insurance https://en.wikipedia.org/wiki/Deposit_insurance It seems like most countries have an equivalent of FDIC.
  • imtringued 5y ago
    In my opinion the deposit insurance programs are ok but the way they are financed basically begs banks to be insolvent because eventually the government chips in and that's where they end up making their guaranteed profits.
    • pjc50 5y ago
      You can't make a profit and be insolvent at the same time.
      • razius 5y ago
        Did you try telling that to Lehman?
• q1w2 5y ago
  I trust the bank more than I trust my mattress. All risks are relative.