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I haven't read the article, but a counter-point: Banks are much less important today than they used to be because there are so many more investment channels av
by Prrometheus 18y ago
I haven't read the article, but a counter-point:
Banks are much less important today than they used to be because there are so many more investment channels available. While regulation limits participation in these channels to the rich and well-lawyered, our economy is more redundant and diverse today than it has ever been.
- fallentimes 18y agothere are so many more investment channels available This is exactly why banks spend significant more money on advertising (think WaMu pre-death) than they used to. It's also why they derive a higher percentage of revenue from fees.