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This is how banks and the economy should be run. Lose our money, lose your head. Skin in the game solves most problems.
by VoodooJuJu 4y ago
This is how banks and the economy should be run. Lose our money, lose your head. Skin in the game solves most problems.
- oneplane 4y agoIt doesn't really solve anything: either nobody wants to be part of it anymore with no working system as a result, or it will be manipulated like any other system and low-level employees will be the scapegoat.
- rglullis 4y agoIt would significantly reduce the size and reach of these entities. There would be no global financial system, and that would be a Good Thing (tm).
- oneplane 4y agoI doubt that prediction is accurate. No global systems is a bad thing, and no financial systems is a bad thing too.
- rglullis 4y agoBy global, I mean Universal, all-encompassing. Advocating for one such system is like advocating for a global government. There are better alternatives. Local, discrete, networked systems that can co-evolve with its participants. They reduce of chance of total collapse of the system and can be isolated when needed, stopping the risk of contagion and avoiding "too big to fail" entities.