Big Banks lending operations are being disintermediated out of existence by data harvesting and social networking on the web

5 Responses to Big Banks lending operations are being disintermediated out of existence by data harvesting and social networking on the web

1. Dementia 5 | March 5, 2012 at 11:35 am |

   http://www.youtube.com/watch?v=BcmrtsO1x64

   

2. Daniel S | March 5, 2012 at 12:02 pm |

   A company that helped small businesses borrow from their customers would be great. Would create more loyalty from customers who would be invested in the business’ success. Also, happy customers want their favorite small businesses to do well and to expand the goods and services they have on offer. It would let people invest in their own neighborhoods. It is a natural synergy.

   Downsides would be customers thinking about things like mark-up and the business side in general which interrupts the consumer’s fantasy, and customers trying to treat staff like annual reports/investor relations.

3. Harry | March 5, 2012 at 12:38 pm |

   Extraordinary Popular Delusions and the Madness of Crowding Out

   http://krugman.blogs.nytimes.com/2012/03/03/extraordinary-popular-delusions-and-the-madness-of-crowding-out/

4. F. Beard | March 5, 2012 at 4:37 pm |

   A company that helped small businesses borrow from their customers would be great. Daniel S

   If companies no longer had access to a government enforced counterfeiting cartel, the banks, then it is likely that competitive pressure would force them to issue and spend their common stock as money thus sharing wealth and power rather than concentrating them.

   We don’t need usury. Period.

5. Robert Mockan | March 6, 2012 at 4:52 pm |

   > F. Beard

   “We do not need usury. Period.”
   I agree 100 percent.

   Also, we do not need usurpation. Period.