Web 2.0 attack on banking system part 2

This is going to be a short post, but I have a rather busy day and want this to at least get some attention. Take a look at this story from CNBC.


The Fed has begun to raise rates, and the author predicts this could infringe upon the out of control profits generated by the bloated banking system.

To be brief, the potential attack on banking from social media fueled innovations in lending, credit ratings, and even investment may have a phenomenal opportunity to attack the system while it is weak. To get more information, read my post from a week ago about the web startup “Kwedit.”


Bank conglomerates suffer from many major problems, including financial insolvency, massive unpopularity and public disapproval, and now an administration and fed hell bent on introducing real regulation and sanity.

For once, government may be creating a situation to speed up innovation rather than impede it. I implore those working within the more nontraditional, web 2.0 banking companies to write and release statements. Make yourselves known to the general public and INNOVATE.

It will take a great deal of strength to take these dinosaurs down, but like the music industry and print media, the weaknesses are there to be exploited.



One Response to “Web 2.0 attack on banking system part 2”

  1. Whew! Insightful post, David. Thx!

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