This has a familiar sound to it . . . 🤔 Thousands line up for zero-down-payment, subprime mortgages cnbc.com/2018/10/12/tho
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They learned what we taught em. "'It's total upside,' said AJ Barkley, senior vice president of consumer lending at BofA." -- total upside because "too big to fail" means, by definition, that banks only participate in upside. Downside is for sucker taxpayers.
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I'm not saying they should be bailed out either. Those people will certainly absorb the downside of their bad decisions. Can't say the same for the banks.
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we take a bigger fee from lower volume (and I don't agree that it is strongly correlated with income) because they generally cost more support time relative to revenue vs those in the highest volume tiers. Our highest tier, btw, is about 10% of other retail crypto brokers.
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