The main idea:
– Institution(s) so great in its impact that it could replace current banking system.
Next Step for institution(s):
– Doesn’t or can it address regulatory and legal issues.
– Geared towards retail, not merchant banking. Does it provide capital to small businesses?
– Where is the educational/empowerment component.
– Can it / isn’t addressing merchant needs?
– Why aren’t credit unions working?
– One answer: Loans are limited to businesses.
– Not well marketed / accessible.
– What will the opposition say?
– What are the non-bank account products / markets that we should be paying attention to — especially when it comes to the working poor.
-Are we addressing predatory lending? (reiterated multiple times)
– note on grameen bank
– how to change the world (book)
– Local / National / Transnational?
– Replicability vs. institutional expansion.
– We’re competing w/ an international banking system — does that mean we have to be an international bank.
– issues with credit cards
– issues with atm fees and that being a reason people don’t switch banks over
Potential things to add/consider:
– Something for businesses, espeically small businesses.
– Something for people to invest their retirements in.
– Democratic process that approximates concensus.
– Allow credit unions to compete with commercial banks?
– Should we feel restrained by regulatory rules? Can we figure out ways to get around them?
– Rolling effect vs. exploding effect (Richard, maybe you can elaborate on this — I’ve forgotten some)
– Open to everyone
– Innovative enough to get people to vote with their checkbook
– alternative currencies
– town in maine
– many models
– some said: not just an alternative currency, but an alternative environment that provides people opportunities