If you’re a bank you can use customer funds for your own purposes, you don’t need to keep any of your customers money or make it available to them other than in small amounts.

If you make huge losses, you don’t go bankrupt, the government bails both your bank and your customers out.

Without a banking license, the above will cause bankruptcy and is illegal and amoral.

Reply to this note

Please Login to reply.

Discussion

Bank CEOs are usury kingpins that are protected by the fascist govs bribed and controlled by a cabal of bank owners.

Bit extreme, but I can't say I disagree 😂

Yeah, OK, but the food... 😉

You know how the word "bank" is "regulated" and supposedly can't be used in business name filings unless you got a banking licence?

So, I'm wondering how food banks get to use the word...

Good point 😂

We live in such a perverse world!