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That's right. Banks would have to charge fees for the services they provide, or become more efficient, or both. They certainly would become less of a profitab
by recursivedoubts 4y ago
That's right. Banks would have to charge fees for the services they provide, or become more efficient, or both.
They certainly would become less of a profitable and shrink as a percentage of the economy. Which is good: smart folks would be incentivized to go into things like manufacturing and research, and produce actual value.
- JustLurking2022 4y agoYou think banks would become less profitable by charging fees? Retail banking is not some wildly lucrative enterprise, generally speaking - it's the boring, stable-ish segment of finance. They're gonna make roughly the same margin, whether through fees or spread.