Marco.org

The name of my bank would be something supremely boring, like SafeBank. The idea behind it is that bad behaviour in the banking world has been largely inevitable because their compensation structures incented people to do overly risky things. SafeBank would maintain a reserve level 2-3x higher than Fed requirements and any other bank. SafeBank would have no bonuses. Critics would say this would make it impossible to attract top-shelf talent. Every time the bank gets attacked we’d turn it into an advertising opportunity to emphasize why we’re different. “We can’t attract top-shelf talent? We take your money and put it in a vault. We don’t need the million-dollar bonus geniuses on Wall Street to do that. SafeBank. Bank, safe.”

Good piece.

I’d join.