You have no idea what you’re talking about here. I’m sorry you just don’t. I literally meet weekly with the one person in the world who started 5 of the last 7 banks in the US, and they aren’t being started anymore because of regulation. Google it.
Every regulation will prevent negative scenarios. It just won’t necessarily offset the cost of what could happen without it. Not enough consider the lost potential upside in trying to protect everything. How many fintech startups don’t exist *because* you cant create a bank?
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Dunno. We have a LOT of fintech startups to be sure. Really need more? What would they do? Money should be boring. Credit unions seem to be doing well. Those seem better suited anyway to helping the unbanked than traditional banks though I can’t compute the nuance.
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Sounds like a serious lack of imagination and creativity IMO. If you don’t think anything good could be done that isn’t being done I just don’t know what to tell you.
End of conversation
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