Quote:
Originally Posted by AdultKing
Of course they would have, no unregulated financial services business is going to sit on 100% of the money it holds for account holders when regulated and insured financial services business don't.
ePassporte would have had funding for recurrent liability plus a buffer for the fractional reserve margins dictated by their own modeling of the transactional nature of the business.
Additional funds would have been used for investments (some will pay, some will fail), risk loss adjustments if fraud levels spiked, recurrent funding of additional liabilities to lien holders and suppliers etc.
Even Paypal would not survive a run on funds and it's insured and regulated in many countries - ePassporte was not subject to any financial services regulation of any note, it could do what it wanted basically and probably did.
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You keep talking this shit but it is just that, shit. I'm not saying they didn't blow a bunch of money but it is not necessary and would be retarded.
As far as investments, it makes no sense to invest in retarded shit. They could make a fortune on safe, lower interest investments. I seriously doubt a run on Paypal would close them down, I really don't think you understand just how much fucking money they make in profit above and beyond what they hold for others.
Again, epassporte could have very well been dirty and it appears they were. It's just a retarded way to operate when you already have profit built into your fees.
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