Hi all, and wanting to keep the record as accurate as possible, please note a correction on a couple of figures included in this reporting:
According to a Depositors Insurance Fund report of Mass Banks as of 3/31/22, the Cooperative has roughly $1.38 billion in assets, and the Cape Cod Five has about $4.7 billion in assets.
This is the best of a very sinister and exploitive system. Banks, local or not MUST show profit and take risk into account. There is just so much a bank can do. Realize that the money banks lend is money they create. If loans don't perform, the bank goes under. Relying on skyrocketing home appreciation in the exclusive Cape market, only feeds the lack of affordable housing. The solution? Realize that banking as we know it needs to be ended with the power to create money taken from the private banks and given back to the People. www.monetaryalliance.org.
Once again, Seth hits the mark dead center. Thoughtful analysis, clear local focus, and first rate writing. Thanks to him when I think about affordable housing I’ll think about local banking, too.
Thank you Seth! Outstanding as always!
Hi all, and wanting to keep the record as accurate as possible, please note a correction on a couple of figures included in this reporting:
According to a Depositors Insurance Fund report of Mass Banks as of 3/31/22, the Cooperative has roughly $1.38 billion in assets, and the Cape Cod Five has about $4.7 billion in assets.
SR
This is the best of a very sinister and exploitive system. Banks, local or not MUST show profit and take risk into account. There is just so much a bank can do. Realize that the money banks lend is money they create. If loans don't perform, the bank goes under. Relying on skyrocketing home appreciation in the exclusive Cape market, only feeds the lack of affordable housing. The solution? Realize that banking as we know it needs to be ended with the power to create money taken from the private banks and given back to the People. www.monetaryalliance.org.
Once again, Seth hits the mark dead center. Thoughtful analysis, clear local focus, and first rate writing. Thanks to him when I think about affordable housing I’ll think about local banking, too.