“If you can’t beat ‘em, join ‘em,” Zombie writes. “Occupy SF launches its own bank:”
Occupy SF will soon learn that micro-enterprise loans are incredibly risky, because most micro-businesses fail. Risky loans are what caused the banking crisis in the first place — remember? Or was that too long ago for you?
It’s all fine and dandy to start your own banking institution with good intentions, but at the end of the day, if you are hemorrhaging money due to risky investments, while calming depositors with the reassuring “Don’t worry, everyone’s money is safe in the hands of the students and homeless transients on our staff,” you’re not likely to last a year. That is, unless, you learn the hard way why banks do the things they do to survive and thrive, in which case Occupy SF will become the very “banksters” they loathe.
Disclaimer: Actual appearance of OSF’s bank may vary slightly from illustration.