Why do we even need banks? What does the financial industry provide? If we were to restructure everything, what would make sense? What are the invariant properties of a viable financial system?
Who else is going to lend you money to buy a house or start a business? Who else will keep your money safe from fire and theft and pay you for the privilege?
Wait. We are exploring boundaries and understanding and not necessarily maintaining the present system. Money? Lend? Ownership? Business? Protecting money? Payments? Privilege? Banking? These are all up for rethinking.
Feel free to come up with a new system that works better. Good luck (so far, all alternatives have proved worse, and not just slightly worse but terribly worse)
