

Is the Internet Finally Robbing the Greedy Financier’s Gravy Train? - edw519
http://www.techcrunch.com/2010/01/14/is-the-internet-finally-robbing-the-greedy-financier%e2%80%99s-gravy-train/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&utm_content=My+Yahoo

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jimbokun
If you want to start a company that can make the world a significantly better
place, finance seems a good route to go right now. It is pretty much the
poster-child industry for corruption, inefficiency, insularity, and treating
customers with contempt.

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josh33
The typos in this article really kill it for me.</complaint>

Valid points about lowering prices in industries with middle-men, but this is
hardly a Robin Hood argument (steal from the reach with force who stole from
the poor with force) as no force is involved beyond simple market forces of
supply and demand.

Actually, we'd see even lower prices across all of these categories if there
were less regulation protecting the incumbents and less overall dollars in
circulation causing inflation.

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karzeem
Regulation has a role to play, but you're right; people forget that making it
really hard to start a bank means we get stuck with the big ones no one likes.

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johnl
If someone forced me to do a startup in the finance industry it would be a
loan company requiring the person to update their financials semi-annually.
With the loan risk being continually updated the loans could be packaged and
syndicated without the need for the heavy insurance and rating companies
manipulation that goes on now. All done on the net.

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kristiandupont
Using my web bank today, I thought how nice it would be if, say, Google
offered a banking service. It feels ridiculously far behind. I can name my
accounts, but only up to 8 characters or so, statements are hard to read
(where did the money come from/go to?) and there are no analysis capabilities
whatsoever.

