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> If people started to think Chase was a place where their deposits weren't safe, it wouldn't be pretty for Chase. But when all banks get hit equally by regula
by bccdee 5y ago
> If people started to think Chase was a place where their deposits weren't safe, it wouldn't be pretty for Chase.
But when all banks get hit equally by regulation, consumers would have nowhere else to go. The banks might superficially complain, but they have no financial interest in opposing surveillance.
- danielmarkbruce 5y agoYou are conflating three issues at this point - taxes, regulations, and a government entity illegally taking people's money.
- bccdee 5y agoThere is only one underlying issue — the fact that institutions cooperate with each other and shut out the public. Only a strong culture of democracy and government accountability can actually protect the public. Without that, it doesn't matter whether the banks are private or state-owned; they control our money all the same.