Re:Denmark doubles capital buffer to contain wider Danske Ba...
by arghwhat on Wednesday September 26, 2018 @04:03AM
(#18073763)
Commercial loans or investments are necessary.
For personal use, mortgages is the only normally needed product. Non-mortgage personal loans and overdraft agreements are not necessities (and seems to invite poor financial management).
The rest are insurance products, which are also on the nice-to-have list.
However, loans and insurance are a tiny fraction of what the financial sector does. The vast majority of other products would go mostly unnoticed if gone.
> Today it would be total chaos.
Briefly, yes. Some things without real value would collapse. But I strongly believe that it would stabilize within the first year.
For personal use, mortgages is the only normally needed product. Non-mortgage personal loans and overdraft agreements are not necessities (and seems to invite poor financial management).
The rest are insurance products, which are also on the nice-to-have list.
However, loans and insurance are a tiny fraction of what the financial sector does. The vast majority of other products would go mostly unnoticed if gone.
> Today it would be total chaos.
Briefly, yes. Some things without real value would collapse. But I strongly believe that it would stabilize within the first year.