[quote=CA renter][quote=sdduuuude]Yes, we should make it illegal for anyone to loan anyone else any money unless it is the government doing the loaning or borrowing. That’ll fix everything. Brilliant[/quote]
You’re missing the point.
[/quote]
No. I’m entirely on the point.
The original poster stated “we should remove private banks.”
What is a bank? It is a private entity that borrows money from depositors and loans it to borrowers.
By definition “removing private banks” basically makes it illegal for people to borrow from each other. It seems a basic right to me and not really the source of the problem.
What we need to remove is the fractional reserve system, a debt rating system that pays based on volume rather than quality, and the bailouts that make the problems of stupid banks everyone’s problem.
Banks should not be removed by anything other than their own ineptitude.
