America’s banks are missing hundreds of billions of dollars

Re:America’s banks are missing hundreds of billions of dollars by nly on Wednesday March 22, 2023 @05:09AM (#35258568)

He is probably right.

So many businesses have become financialized now. In the UK, John Lewis, which is/was an upmarket department store (and also owns Waitrose, a grocery store), is a mutual, owned by it's employees, but is now in the built-to-rent property market. Its literally burning the reputation and diversifying in to all kinds of gimmicks as it dies.

Sainsbury's, one of the biggest supermarket chains in the UK, has been in to lending (credit cards, loans) for decades now.

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Re:America’s banks are missing hundreds of billions of dollars by jen20 on Wednesday March 22, 2023 @08:21AM (#35259950)

Does Sainsbury's lend directly or does it put its name on credit cards issued by (e.g.) MBNA like many other companies? I've never looked too much at what they're up to.

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Re:America’s banks are missing hundreds of billions of dollars by rcarr on Wednesday March 22, 2023 @09:07AM (#35260403)

Not only that, it was in the paper the other day that the CEO of John Lewis wants to sell a chunk of the company to a private investor so it won't even be a full mutual any more.

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