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Anyone who has worked in data knows this difference instinctively. There’s a massive difference between the data being theoretically available somewhere in you
by generj 3y ago
Anyone who has worked in data knows this difference instinctively.
There’s a massive difference between the data being theoretically available somewhere in your organization and “trivially” accessible vs actually being able to run a query (let alone the work to actually run the query).
With that said the unbanked crisis is severe and there are big societal benefits to insuring everyone has a checking and savings account. There’s no reason robust safeguards can’t be built into the law establishing the Bank of the United States (Third time is the charm!).
- nightski 3y agoYou don't need a federal bank to solve that problem. A simple regulation would suffice requiring private banks to service these customers in some fashion.
- Matl 3y agoTrue, but then you would get complaints about government mandates.
- LordDragonfang 3y agopart of the point is to separate the "is a place to deposit and withdraw your money" portion of banking from the "does financial speculation" portion.
- astrange 3y agoThat's the entire purpose of a bank. The point of a bank is that the customers think they're putting their money in a box, but it's actually loaned out to businesses. If you don't do this, the money supply gets a lot smaller.