Re: In Search of Genuine DigiCash

["Perry E. Metzger" <perry@imsi.com>]

Eric Hughes says:
> Now 14% is huge in terms of relative competitive disadvantage.  In a
> tight market, even a 3% price difference in a commodity service is
> enough to capture a market.  It's these kinds of effects combined with
> international competition which will cause banking deregulation in the
> USA.

A simple thing like fixing the laws so that interstate branching is no
longer subject to antideluvian regulation has taken many years and
still isn't quite passed.  Removing the obsolete Glass-Stegal (sp? I'm
tired today) wall between commercial and investment banking, which is
widely understood even by regulationists as bad law and has been
talked about for years and years, is going very slowly. My guess is
that the country will experience some sort of major upheaval before
the banking system is deregulated.

Perry