17 ms·
Banks are run by finance people with a profit incentive. They're susceptible to trends - see subprime lending and CDOs in 2008 where even the big boys who knew
by XorNot 1y ago
Banks are run by finance people with a profit incentive. They're susceptible to trends - see subprime lending and CDOs in 2008 where even the big boys who knew it was a bad idea eventually started doing it.
- _heimdall 1y agoThat still doesn't do it for me though. Banks in the US are somewhere between a legally protected monopoly and a racket. They would only make more money if they can charge higher fees or convince the economy as a whole to make more or larger transactions. If banks could do either of those with a stablecoin they could do it with USD, which again is effectively a stablecoin that lives in the banks' private databases.