Patrick McKenzie
over 1 year ago
In slight tension to the argument that there is actually no market for narrow banks, we have a policy apparatus which considers them corrosive to trust in the banking system and therefore does not see fit to let them exist. t.co/qwe5KEtvpL
I broadly think it is a terrible product in service of a problem which is vastly overrated, but it is useful to note that the problem isn’t that it was tried and failed. People proposed them and got a very firm Nope, Not Going To Happen, including after court cases IIRC.
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