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How is being a bank terrible? It's one of the most profitable businesses ever and continues to be.
by kwar13 3y ago
How is being a bank terrible? It's one of the most profitable businesses ever and continues to be.
- rsynnott 3y ago… Wait, what? I mean, possibly if you’re a large investment bank , those can be quite profitable (until they’re abruptly not; see 2008). Retail banks (which the ‘be your own bank’ people are presumably referring to; if you want to be your own investment bank you can just skip the ‘bank’ bit) are generally not particularly profitable.
- andruby 3y agoBeing a stable working bank is really really hard. Most people don't have the knowledge, time or desire to do that. For 99+ % of the world's population using fiat currency is simple and the learning curve is basic school maths.