Patrick McKenzie
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From one piece Notes on a non-profit indicted for bank fraud 3 beliefs, in the piece's order there
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Their words
But in law, as in restaurants, we are allowed to write down recipes and tell people to just follow the steps.
Notes on a non-profit indicted for bank fraudbitsaboutmoney.com
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korrents.com
The mandatory financial-transaction reporting regime functions as an end-run around the Fourth Amendment.Their words
One critique is that this regime is functionally an end-run around the Fourth Amendment.
Notes on a non-profit indicted for bank fraudbitsaboutmoney.com
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Their words
The financial industry understands itself to be an arm of the government. We were inducted into this service other-than-willingly through the ordinary operation of law and regulation. This is uncontroversial and unsurprising to insiders.
Notes on a non-profit indicted for bank fraudbitsaboutmoney.com
6 February
From one piece Fraud Investigation is Believing Your Lying Eyes 3 beliefs, in the piece's order there
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korrents.com
A person who has committed fraud once is likely to go on to commit fraud again in a new venture.Their words
the dominant next adventure for a former fraudster is... opening up a new fraud.
Fraud Investigation is Believing Your Lying Eyesbitsaboutmoney.com
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korrents.com
Most fraud is the product of an organized business process rather than individual wrongdoing.Their words
Most fraud, like most scaled property crime, is actually the result of a business process.
Fraud Investigation is Believing Your Lying Eyesbitsaboutmoney.com
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Their words
it is well-understood in industry that the optimal amount of fraud is not zero.
Fraud Investigation is Believing Your Lying Eyesbitsaboutmoney.com
7 January
From one piece One Regulation E, Two Very Different Regimes 2 beliefs, in the piece's order there
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Their words
if it walks like a checking account, quacks like a checking account, and is marketed as an alternative to checking accounts, then it is almost certainly within Reg E scope
One Regulation E, Two Very Different Regimesbitsaboutmoney.com
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korrents.com
A consumer fraud dispute is decided by a support agent in about three minutes, not by anything resembling a trial.Their words
It is a CSR clicking a button on their web app’s interface after 3 minutes of consideration, and then entire evidentiary record often fits in a tweet.
One Regulation E, Two Very Different Regimesbitsaboutmoney.com
19 December 2025
From one piece The gift card accountability sink 3 beliefs, in the piece's order there
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Their words
The dominant reason for this is that suggesting a concrete action to you gets you off the phone faster, and the call center aggressively minimizes time to resolution of calls and recidivism, where you call back because your problem is not solved.
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Their words
people who write professionally about money-including professional advocates for financially vulnerable populations-often misunderstand alternative financial services, largely because those services are designed to serve a social class that professionals themselves do not belong to, rarely interact with directly, and do not habitually ask how they pay rent, utilities, or phone bills.
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korrents.com
The United States is capable of creating large, effective, pro-consumer regulatory regimes, at least in some cases.Their words
Many people think the U.S. can't make large, effective, pro-consumer regulatory regimes. They are straightforwardly wrong... some of the time.
5 December 2025
10 October 2025
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Recommendsrcmnd.app
Money StuffTheir words
For much more on that side of things, you should read Money Stuff or listen to Odd Lots, which cover “private credit is the new bank lending” all the time.
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Recommendsrcmnd.app
Odd LotsTheir words
For much more on that side of things, you should read Money Stuff or listen to Odd Lots, which cover “private credit is the new bank lending” all the time.
13 August 2025
From one piece Open Banking and payments competition 4 beliefs, in the piece's order there
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korrents.com
Letting banks ruin the economics of businesses they dislike by demand letter will inevitably be abused.Their words
We should not allow banks to get into the habit of sending demand letters to ruin the economics of businesses they simply do not like.
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Their words
But cards are not and cannot be the last word in payments.
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korrents.com
Having banked almost everyone does not entitle banks to a fee on every transaction in society.Their words
We have made enormous strides, both from the financial industry and civil society, in banking almost everyone.
+ 1 more
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Their words
Almost all discussions of it center on “data”, but it’s actually a fight about payments, and whether banks have a right to monopolize and charge for all economic activity their users engage in, irrespective of whether the bank operates the payment method.
5 March 2025
24 January 2025
15 January 2025
9 December 2024
From one piece Debanking (and Debunking?) 5 beliefs, in the piece's order there
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korrents.com
Nic Carter correctly identified the product behind the FDIC’s redacted crypto pause letters.Their words
I think Carter is very likely (90%+) correct with respect to identifying the subject of these letters.
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korrents.com
A US deposit account is a credit product, and cannot be made otherwise without breaking it.Their words
For one thing, typical deposit accounts in the U.S. are actually credit products. It's baked in and can't be baked out without making them unfit for purpose.
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korrents.com
Americans are not, as a routine matter, cut off from the financial system for their politics.Their words
This does not happen as a matter of routine in the United States.
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Their words
We will explore some coordination mechanisms, which are overstated, and some correlation mechanisms, which are poorly understood.
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Their words
We’re hearing about debanking because it sometimes affects socially established wealthy entrepreneurs and their companies.
7 October 2024
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Recommendsrcmnd.app
The Big ShortTheir words
the Big Short is a dramatization of a gang of outsiders (and insiders who are presented as outsiders for narrative convenience, a theme Lewis will return to frequently, not always with self-awareness) who correctly predict the mechanism and course of the global financial crisis.
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Recommendsrcmnd.app
Margin CallTheir words
What it is stellar at—almost unmatched in fiction—is depicting archetypes that are both dramatically compelling and reasonably true to those working at various levels in the industry.
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Lovedrcmnd.app
The Dragon's BankerTheir words
sometimes, a title has you at hello, and then goes on to underpredict the actual work. That’s the Dragon’s Banker in a nutshell.
+ 5 more
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Lovedrcmnd.app
The Dagger and the CoinTheir words
This is a worthy entry in the genre. It suffers a bit from extensive plot not about banking and characters who barely speak to dragons. But all of that irrelevant fluff makes it one of the most underrated fantasy series I’ve ever read.
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Recommendsrcmnd.app
Shylock's ChildrenTheir words
This is a pity, and if you can find it, it is very worth your time.
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Likedrcmnd.app
The Phoenix ProjectTheir words
The Phoenix Project is actually assigned at some infrastructure companies, because the narrative makes the pedagogy about project management go down more easily.
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Mixed onrcmnd.app
The Social NetworkTheir words
The Social Network is substantially made up, more a source for vibes rather than a source for facts. Even the vibes fail to cohere with reality. And yet it convinced many proto-founders to put in YC applications.
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Recommendstheir ownrcmnd.app
Complex SystemsTheir words
do check out Complex Systems if you haven't already. It is in your podcast-delivery-vehicle of choice or at the website
31 July 2024
30 June 2024
24 May 2024
Nothing matches.
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