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Is THIS a Viable Solution to the Current Amtrak Funding Crisis?
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[quote]QUOTE: <i>Originally posted by kevarc</i> <br /><br />Ok, you want an explaintion <br />2. To Charter a bank would take an Act of Congress to creat. Chances of that ever happening are slim to none. <br /> <br />4. Where would the money come from? As a charter bank it needs deposits and after seeing amtraks track record with money, no fund or retiremen fund manager in their right mind would put money there. The lawsuits for failing thier fiduciary duties would be unreal. NOt only that,, but a bank MUST pay interest on their deposits and the return at this time is not going to encourage deposits. <br />[/quote] <br /> <br />Overall NO! <br /> <br />#2 NO. Most banks are state chartered, but insured by the Feds (FDIC). Only the real big guys have a true federal charter. Check out where most of your credit card money goes (my old hometown - Delaware). A lot of banks have charters in many states and are actually many different banks under one holding company (Bank One). <br /> <br />#4 Yes. Banks need a form of deposits to then reissue as loans with higher interest. Deposits can be of many design (Cash, Credit Transactions, Fees, Loan Interest, Insurance) <br /> <br />
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