Saturday, February 23, 2019
Same old question
I've been asking this same fucking question since 2008. Time to ask it again, just to keep the ball in the air.
For 800 years banks have made a good profit by paying interest on savings and charging more interest for loans.
It's simple retailing. Buy stuff, process it or organize it or make it more convenient, sell it for more.
In 2008 banks STOPPED doing business. Banks ceased to exist. The places called "banks" still run checking accounts and debit cards, which are profitable. But they no longer pay interest on savings and they no longer make loans. They simply act as a front for the securitizing industry, and receive a fee for being the front.
The niche is still there. The suppliers are still EAGER to supply the raw material and receive rent. Small businesses are hungry for loans. The opportunity for a middleman is open and unfilled.
WHY IN THE HOLY FUCK DOESN'T SOMEBODY OPEN A FUCKING BANK?
Labels: Asked and worth asking again
¶ 2:40 AM
