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Their source of profits lay in maximizing the difference between the costs of their liabilities and the earnings on their assets, without reducing reserves to such an extent that the bank became vulnerable to a run – a crisis of confidence in a bank’s ability to satisfy depositors, which leads to escalating withdrawals and ultimately bankruptcy: li
... See moreNiall Ferguson • The Ascent of Money: A Financial History of the World: 10th Anniversary Edition
Dean Britto
@deanbritto
Paul Frick
@pef
Matthew Blechman
@matthewblechman
I broadly agree with this point even though I disagree with the exact wording.
There is a market in accounts which present to the user as “your money” and banks will pull back from that market to largest degree that their regulators permit them to vis certain categories of users
Patrick McKenziex.com@ValleyFallsRI Can launch merchant verticals within any industry, controlling payment flow, moving deposits within their networks. The banks backing them are crushing it.
Small banks will keep getting eaten alive by these type of software systems within every major industry.
Community Banker Guyx.comMicah Resnick
@micah
Jeff Rothenberg
@jmrothenberg