Since Bones Loans' isn't loaning at the moment, I've decided to implement something I've been working on for the past month or so. Some of you may remember [KVM]Synge from CB1 and his "Carnage Blender Charter Bank," or, CB^2. For those of you who don't (and for those who have never played CB1), allow me to fill you in: Synge ran a successful banking institution on CB1 that loaned money using a fixed set of rules that were planned out in a charter. Synge was trying to standardize the banking economics in the game, and it was working until he finally quit playing CB.
So, in memory of Synge, and because we need something like this in CB2, I've done the legwork and planned out a very similar system using Synge's model as the framework. I've tried to simplify some of what he was doing in order to streamline the process, but I've taken great care to insure that the fundamentals of the system remained intact.
So, look for the charter and loan application threads that will be showing up in FS/WTB soon. I'll leave you now with a quote from Synge regarding his banking idea on CB1. I believe that all of his points are still valid when applied to my banking model:
"Why CB^2 is good:
*The bank is here to serve the community first, rather than its shareholders. The lion's share of the profit from the bank will be reinvested into the bank until it can meet all community demand for its financial services. Competition from other sectors will keep the rates very good, as well, so there is no risk of any price gouging.
*Those good at math can see that the bank can potentially be making a profit, depending on the proper management of its deposits and loans. But, that is how real banks operate as well. And it should also be noted (even by, and especially by, those bad at math) that with improper management, the bank can lose money, and rather easily.
*It is possible that people can find loans from others at lower rates than what CB^2 can offer. That is fine. CB^2 is a business, and can handle some competition, since this is a free economy. But what CB^2 can offer is the same thing real banks offer: a higher degree of flexibility, availability, and safety by establishing an institution with clear rules, transparent accounting, a good reputation, and most importantly: minimal effort necessary on the part of the customer to transact business.
*Ease of access for the customer is the primary advantage of the bank, and its raison detre[sic]. It is possible for a specific person to seek out a specific item that has a specific payment plan, but this is a lot of work. The bank makes things much easier for the average customer. If you enjoy more work, please do not let the bank interfere with your enjoyment.
*All buyers, even in forum sales, will never have to consider the utility of payment plans again, or the reliability of a potential buyer. All transactions can be cash on hand. So, buyers, DEMAND CASH ON HAND! Theres no reason not to now. "
--Synge, September 21 2004.
