Request for startup (in strictly a personal capacity): I collect checking accounts, because I'm a little bit broken. If you ever set out to build the below product for retail banking, please get in touch. I would love to chat about checks somewhat larger than $30.https://twitter.com/joelrunyon/status/1189797282281119744 …
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Replying to @patio11
Recently PMC Bank in Mumbai went under because of overexposure to bad loans which has prompted me to ponder this, ie. Why aren’t there banks that just take your money and hold it without doing anything risky or otherwise greedy.
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Replying to @firasd
The term of art is "narrow banks." As to why there are basically no narrow banks: Society wants banks to be in the Goldilocks zone of risk taking, because broad access to credit keeps the economy humming and because credit is a privately funded safety net.
2:05 AM - 31 Oct 2019
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