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