8 points | by ioblomov 8 months ago
5 comments
https://archive.ph/WboMc
One of my new favorite quotes:
A banking system is a superposition of fraud and genius that interposes itself between investors and entrepreneurs.
This is pretty uncharitable as far as the fundamentals and theory of banking o. In practice the big boys have certainly earned it though.
Within the context of the article, it's an acknowledgement that the two primary purposes of banks are fundamentally at odds. It's not meant as a dig.
Fair enough
https://archive.ph/WboMc
One of my new favorite quotes:
A banking system is a superposition of fraud and genius that interposes itself between investors and entrepreneurs.
This is pretty uncharitable as far as the fundamentals and theory of banking o. In practice the big boys have certainly earned it though.
Within the context of the article, it's an acknowledgement that the two primary purposes of banks are fundamentally at odds. It's not meant as a dig.
Fair enough