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Every "pointless" banking protocol exists because of an actual bank failure.
by gamblor956 4y ago
Every "pointless" banking protocol exists because of an actual bank failure.
- akimball 4y agoAnd this failure is the direct result of those protocols
- datatrashfire 4y agoCare to walk us through that?
- yieldcrv 4y agoyou are choosing to think of your worst nightmare. GAO reports are full of examples that have nothing to do with bank failures. Such as some random reports banks are required to file to FinCEN. Just creates an infinite loop of paper nobody ever evaluates. Some mandatory personnel a regulator requires, yet cannot realistic do their adversarial job in an at-will employment world. There’s more.
- gamblor956 4y agoBanks don't file reports with the GAO, which is the internal auditor of the U.S. federal government that audits government financials. FinCEN reports aren't related to bank failures, they're related to money laundering and other financial crimes. FinCEN means "Financial Crimes Enforcement Network." Banks file these reports because a number of financial crimes require the use of bank services. And most agency personnel would outcompete you in an adversarial at-will employment world. They work for the government, for less pay, because they want to, not because they need to.
- yieldcrv 4y agoare you being intentionally dense Yes the internal auditor of the government released reports of failed government policies, how did you read anything else
- gamblor956 4y ago??? We're talking about bank regulations, not every failed government policy. It appears you're just trying to move the goal posts.