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Actually, I don't think he understands how banks work, period. They loan the money out. That is where the money comes from. How much money a bank makes is ab
by Eliezer 17y ago
Actually, I don't think he understands how banks work, period. They loan the money out. That is where the money comes from. How much money a bank makes is about what sort of loans it makes. Guy talks about "keeping the money in a vault" so he has, roughly speaking, no clue whatsoever how banking works.
- loltrader 17y agoHe's basically talking out of his ass. The commercial banking model is dead and there's no way he could compete with the likes of BoA.