Re: Completely Unwoven: Business, Economics, and Tax Policy 4.0
Thieves are going to love it, and our credit card purchasing days will be put on hiatus. Cash will be the order of the day, and most consumer accounts that aren't already invested in some security or another will either be closed or maintained at about their minimum requirements to keep them open - then balances added just in time to pay bills.
If I were a bank executive, I'd refuse going negative and simply set a floor rate of 0% on all checking and savings accounts. The headaches of dealing with irate customers and the daily cash transaction volumes wouldn't be worth the small bit of interest collected.
Originally posted by Bill
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If I were a bank executive, I'd refuse going negative and simply set a floor rate of 0% on all checking and savings accounts. The headaches of dealing with irate customers and the daily cash transaction volumes wouldn't be worth the small bit of interest collected.
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