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Being licensed as a Bank in Luxembourg sounds a lot like getting a degree from the University of Phoenix.
by herge 13y ago
Being licensed as a Bank in Luxembourg sounds a lot like getting a degree from the University of Phoenix.
- DanBC 13y agoIt's a real bank. Luxembourg has cheap corporate tax rates, so all Paypal's Europe stuff goes through Luxembourg and thus they get cheaper taxes.
- herge 13y agoJust because it is called a bank does not mean you'd would want to rely on it. If Paypal suddenly decided to pull up it's stakes and take all it's customers money, I would not imagine that Luxembourgois banking law would help a lot of customers.
- koyote 13y agoDo you have any sources confirming that the Luxembourgish banking laws would allow Paypal (and all the other countless international banks stationed there) to get away with this?
- koyote 13y agoBecause Phoenix is known for its important education sector just as Luxembourg is known for its important financial sector? I am very confused by your statement.