When ATM machines came out and people were prosecuted for robbing ATM machines, I don't think anybody thought the banks were against technology because they didn't want their ATM machines lifted.
Sentiment: NEGATIVE
Before 1980, it was basically illegal for U.S. banks to invent new products.
Folks can't carry around money in their pocket. They've got to go to an ATM machine, and they've got to pay a few dollars to get their own dollars out of the machine. Who ever thought you'd pay cash to get cash? That's where we've gotten to.
It's wrong to rob banks, yeah, but is it right for banks to loan people money, knowing full well they can't pay it back?
Technology breeds crime and we are constantly trying to develop technology to stay one step ahead of the person trying to use it negatively.
The rise of computer crime and armed robbery has not eliminated the lure of caged cash.
Before Enron, I think people were a bit more naive about the way things worked, and I think Enron pulled the curtain back on unsavoury practices that turned out to be a lot more widespread.
You read constantly that banks are lobbying regulators and elected officials as if this is inappropriate. We don't look at it that way.
Banks are an almost irresistible attraction for that element of our society which seeks unearned money.
The fundamental problem with banks is what it's always been: they're in the business of banking, and banking, whether plain vanilla or incredibly sophisticated, is inherently risky.
I think bankers will always get away with whatever they can get away with.
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