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31 Comments
- inactive, on 10/28/2008, -5/+22Why not have cash rich tech companies like Google open up real banks to compete with the New York Banksters? The high tech culture could teach the wall streeters a thing or two about business. It's time to kick out the the old school and replace them with some new school internet-style innovation.
- freexe, on 10/29/2008, -0/+17Would you use a bank if it was in "beta" though?
- memper, on 10/29/2008, -0/+14Yeah! Cause this worked so well for the auto industry.
- inactive, on 10/29/2008, -0/+9Thank you for the sanity. Tech companies lending money to a bankrupt consumer while heading into a recession with MASSIVE layoffs is the most ridiculous idea of all time. If they implement this plan, they are the next to ask for bailout money.
- inactive, on 10/29/2008, -1/+10apple is gonna charge $35 to pull out 20
- gtluke, on 10/29/2008, -0/+8this worked so well for the "old" tech companies, westinghouse and general electric
fail - crzdmn, on 10/29/2008, -0/+4Valid concern... I would as long as my balance increased like the space in my gmail account did when it started!
- ButteredCat, on 10/29/2008, -0/+4Who cares? The cash will fit in a manilla envelope.
- MindTrigger, on 10/29/2008, -0/+4Apple users will still bank with them. :P
- Exzhaton, on 10/29/2008, -1/+4I send data packets and mod computers. Get money.
- boxxa, on 10/29/2008, -0/+3Agreed. Everyone who lended was "cash rich" at some point or another until they lended to people who didn't pay back.
- wrmjr, on 10/29/2008, -0/+3For tech companies that manufacture products--like Intel and Cisco--a pile of cash means they can afford to upgrade or grow even if banks aren't lending. Software companies can use the pile of cash on acquisitions. Both of those uses are better and more profitable than loaning money at some low rate of interest.
- gospe1337, on 10/29/2008, -0/+3http://www.federalreserve.gov/releases/g19/Current ...
- AtheismFTW, on 10/29/2008, -0/+3Their money wont be compatible for many transactions.
- inactive, on 10/29/2008, -0/+2no, you put to much value on "high tech" gadgets because your a complete tool. In turn, they are only selling very cheap parts + marketing. The only peron losing money is you.
- bpoteat, on 10/29/2008, -0/+2Exactly (but I think you meant "...should NOT have bailed out...").
There is money in the market looking for a place to be loaned, just not through the traditional channels (that just happen to have massive amounts of lobbyists on their side). - Viliam, on 10/29/2008, -0/+2Why not? Whatever you do with money, contains some risks and some possible benefits. If I would feel the benefits of using Google Bank outweight the risks of using Beta version, I would try it.
- AlbinoRaven, on 11/06/2008, -0/+1Why should we lift a finger to help? If people don't have the money to pay for infrastructure equipment ***** them. If they don't have the money for services to install infrastructure equipment, ***** them.
Never met a whore that took an IOU. Anyone else want an IOU for a rubber check? Just make sure the check is made out to cash and I tell you how you can profit from it. - inactive, on 10/29/2008, -0/+1yeah, I'm sure the banking cartel would allow that one to happen.
- inactive, on 10/29/2008, -0/+1asl ?
- inactive, on 10/29/2008, -0/+1Hey, it really did work -- they're headin' for a bailout just like AIG & the ***** bankers, on the backs of US taxpayers and their grandkids, thanks to BOTH "major" party candidates. The amazing thing to me about GM is that despite losing money like mad for the past few years and now begging for & betting on a bailout, we STILL are treated to too goddamn many "Ditech.com" commercials. These commercials are GM trying to bet against inflation in a time of 2 wars. It's one thing if shareholders & executives get screwed because of that, but now the taxpayers are screwed, too. And it's actually worse than that, don't get me started on Credit Default Swaps...
- bpoteat, on 10/29/2008, -0/+1The point being missed is that, contradictory to what the US government & the major banks are trying to tell us, there IS money to be lent. If a business needs money there are many banks and other businesses willing to loan it out - the key difference being that these companies will most likely be much wiser in choosing to whom they loan it. Why do we need those specific banks that couldn't determine the right and wrong loans to make? There are many groups willing to stand up and take their places.
Most of the American population realized this but were overridden. - oldgal, on 10/29/2008, -0/+1You already are, it's just that banks call their software installs production ready - or in some cases PILOT (production-in-lieu-of-test) installs.
- hwy9nightkid, on 10/29/2008, -0/+1no this is how it works, when you open an account it first costs $40 dollars to take out money.
Then maybe a year later, It only costs $20 and you get candy with your money.
unless you jailbreak you account, then I don't know what the hell happens - hwy9nightkid, on 10/29/2008, -0/+1So they are becoming banks because they have no money?
I think what you mean is, they need more revenue streams than their products.. - inactive, on 10/29/2008, -1/+2This is exactly why we should have bailed out the banks with $700 Billion of taxpayer money and let the free market take its course. They will always be someone out there to fill the vacuum and meet the demand.
Now the taxpayer will get screwed with corrupt Wall Street bankers, CEO's and executives just using the money to fatten their own personal wallets and very very little will get paid back to the taxpayer just like in the Savings and Loans bail outs, airline bail outs, automotive bail out, insurance bail outs and the previous bank bailouts. - inactive, on 10/30/2008, -0/+1F**k the banking cartel. They're nothing but a bunch of leeches. They don't have a productive bone in their body. They spend all their time thinking of new ways to rob people of their money. If there really were such a thing as a "free market", they wouldn't last a year. It is as you say, because they are a cartel that they get away with it. Start by eliminating the Fed. Where were the bailouts when the High Tech companies were failing after the internet bubble? The banks should just be allowed to fail and let the chips fall where they may.
With internet technology, a whole new banking system could be constructed. Where people borrow directly from one another. Without a bunch of middlemen taking a huge cut. This is already happening and is called "peer-to-peer lending".
http://www.iht.com/articles/2008/10/16/business/pe ... - scamper22, on 10/29/2008, -2/+2you know I actually thought of this. Engineers/high tech people are some of the smartest people, but have never really decided to own the fruits of their labor.
Software/hardware engineers build the complex trading platforms and ATMs these banks run on. Yet who gets the ongoing monies? I guarantee you it is not the guy writing software.
Crazy Engineers build routers and switches. Yet, who gets the ongoing profits that deal with the customer and wireless plans? ATT, Rogers...
Granted there are risks in going retail. However, it is about time the people who make things get a cut of the business. Whether that is RIM with its own network or Apple that get its cut. We're seeing it now.
Banking/Trading is ripe for a revolution and the tech companies are cash rich enough to bankroll it. - quicksilver1023, on 10/30/2008, -0/+0Imagine how screwed we would be if all of the IT companies suddenly failed... It's probably a really bad idea to tie the IT and financial sectors to the same potential point of failure. Otherwise we'll all be on jobs.com instead of digg.com (assuming the ISP's are still in business).
- hwy9nightkid, on 10/29/2008, -1/+1this is potential disaster. I would only do this, as a CFO, if it was near 15% gains and little to lose. In this climate, economically speaking, I think they can afford to do this.
- donnyg16, on 10/29/2008, -2/+1I think tech companies are becoming like banks because they put all this money on these high tech gadgets and if they don't sell the amount that they anticipated then they lose a lot of money.
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