Banning Banks

What's your point? All I was saying was that depositing your L$ in a "bank" not backed by the FDIC isn't a good idea. Since none of the SL banks that closed WERE backed by the FDIC, ALL of the people lost their money.

[Edit: I'm using the FDIC because LL is located in the USA. If an SL bank were backed by a comparable institution in another country, same thing would apply.]

"well if anyone wants to know how to rip scripts or textures im me in game and I'll let ya know how its very easy and no need for anything like copybot at all"

If you ever wonder what credibility is, it's that thing that just flew out the window.

Agreed, but by making regulation with RL organisations (eg FDIC or the UK FSA) mandatory, only the "honest" banks will bother as there is some time and expense involved in getting the necessary accreditation from those RL bodies. This would also involve the banks being a RL company with limited liability and RL shareholders. Meaning that the RL information of the people running these businesses would have to be on public record.

Instead of the totally unregulated, one man bands that nobody knows who they are, that call themselves a bank that LL has now thought fit to ban.

For that reason, LL has made a very difficult decision. In my mind the correct decision although this should have been in place from day one. This would've saved a lot of people from Ginko and all the other Ponzis.

Quoted to try to bury the dead horse *takes sticks from people*, and to bury the hatchet (preferably in the thick skulls of people who can't get the reasoning behind the above quote).

~Jessy

/me looks at my post, asks Jessy to read it and takes back my stick....


I never said Banks were banned, I said that RL protection was mandatory......

Now that my post is proven to be valid, I think my opinion is too

I'm a proud dumbass thank you very much!

only peopel that wouldn't think its a good idea would be the "wanna be bankers"

Errr....I didn't refer to your post. Mine follows it, but doesn't comment on it. *Takes back stick...again* Concidering we're on the same side of this discussion, you don't need this.

If you'd go back and read MY post *grins* you'd see I'm tired of the people crying that banks are banned. They aren't. Only the unregulated ones are.

~Jessy

This again??

well yes. We have to go through the pains of listening to the bankers complain now just like we had to go through the pain of listening to casino operators and slot machine creators complain. Why would this be any different?

My point is that many customers would be left pissing in the wind if RL banks had two weeks to shape up or ship out. The insurance wouldn't be able to cope.

Yes you're right, depositing money in SL banks wasn't a good idea, no regulation, no guarantees, no legal status. However given the same circumstances, RL banks with all their legality and insurance would be up the creek without a paddle too.

But they don't have only two weeks to liquidate. They have two weeks to take the ATMs down. If they are still liquidating after that time, they just have to do it manually, not via ATM. No one is going to be screwed by an honest bank.

honest and bank with regards to sl is like an oxymoron you know?

Well there was one that I know of. The others... meh. Either way, it's better to end it earlier than later, and giving 6 days or 6 months doesn't make a difference if the bank intends to pay back its depositors.

Presumably the banks had investments (tries to hold her laughter). So... has anyone seen any of the banks selling off these investments to get liquid? Has anyone seen SL businesses in desperate need of credit crying because they can't borrow money?

I just don't think for most of these there ever was any investments. It was just Scammy McScamster leaving town with a big bag of monies.