Topic: Technological Wizards of the Banking Industry - page 5. (Read 2986 times)
So the bankers have literally just been designing and developing ever more inventive ways of milking us all.
What have all these technological wizards been doing within the banking industry all these years?
1. testing bailouts
2. do bailouts
3. retire
it would be funny if it didn't feel like a tragic truth
Corporations are mostry greed-drive. The idea that competition create incentives for innovation is overrated and flawed. If you control a huge part of a market, there's no reason for you to spend money on inovation. You focus on making pure profit.
The only innovation from them is to find create ways to charge people more fees for stuff that was supposed to be free. They also found innovative ways
to spend the income from these fees, for example big corporate sponsorship for Sport. These guys apply practices that puts us in debt for 20 to 30 years
and we are happy to pay them double and even triple the amount they loaned us. {Bonds} Why are they allowed to do that? They have the backing of
the governments.
to spend the income from these fees, for example big corporate sponsorship for Sport. These guys apply practices that puts us in debt for 20 to 30 years
and we are happy to pay them double and even triple the amount they loaned us. {Bonds} Why are they allowed to do that? They have the backing of
the governments.
So there's no financial geniuses within the industry employed to inovate and bring down transactional costs?
What happened to all the so called technological wizards who work in the banking industry? The financial sector often boasts that it only employs the best of the best, so that said, why didn't one person within that sector design, develop and conceive an electronic cash or distributed ledger system? What have all these technological wizards been doing within the banking industry all these years?
banking behind the scenes have not changed in decades. they have employed a few "temps" to tweak and change a few things. but most of the time they are just employing network managers watching the network, rather than programmers creating new networks.
for banks its more like employing a smart cable guy to swap network cables and test data is going down the right cable. not programmers
the banks leave it for visa, mastercard to do the more creative technology features of NFC, faster payments. and then just send those faster payments to the banks old system in batches of out of date format
What have all these technological wizards been doing within the banking industry all these years?
1. testing bailouts
2. do bailouts
3. retire
What happened to all the so called technological wizards who work in the banking industry? The financial sector often boasts that it only employs the best of the best, so that said, why didn't one person within that sector design, develop and conceive an electronic cash or distributed ledger system? What have all these technological wizards been doing within the banking industry all these years?
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