Ya'll better watch you investments at Azure!

[Lossi]

5 hours ago, Psweet said:

This settles it.  If I ever get back into the Orbis finance scene, I'm starting a credit rating bureau. 

Also, never trust a bank that can't be assed to publish financials.  There's no reason not to - Stratton Oakmont proved this for several years while in operation.  No, the amount of cash you have on hand and the amount you have loaned out isn't super secret info that can lead to the fall of your bank.

This "Credit Rating Bureau" indeed already exist, but it's still new.  I can seek out a link to it for you if you want to try and help them out, and I believe it really only addresses clients, not the banks themselves.

As for the transparency issue, Leviathan is in the process of fully reviewing our policies and business practices, so I'll be glad to take some feedback about the pro/con of increased transparency to propose the case to our board.  So feel free to message me @Joel James and psweet

As for Azure, we've had our clashes with pretty much every bank in Orbis when we first started, Azure being no exception, but I wish them the best in trying to rebuild their reputation from this, and extend my advice if sir Sempre would like to listen.

[Blitz]

9 hours ago, Zevfer said:

If you want a proper bank I'd say head over to Leviathan bank as we have very detailed logs for everything.

^

Levi was where I got introduced into the industry. Maybe that's why I wasn't satisfied with the  level of transparency at Azure.

And yep. I'll be opening mine tommorow (Monday) and expect Levi level transparency at mine. 

Learnt a lot from y'all. o7 Levi!

5 hours ago, Psweet said:

This settles it.  If I ever get back into the Orbis finance scene, I'm starting a credit rating bureau. 

Also, never trust a bank that can't be assed to publish financials.  There's no reason not to - Stratton Oakmont proved this for several years while in operation.  No, the amount of cash you have on hand and the amount you have loaned out isn't super secret info that can lead to the fall of your bank.

_The god has spoken_

Exited to see what you bring to us next bro! 

And yeah. I believe those and more stats are information that every investor and maybe even a visitor has the right to aquire.

[Blitz]

4 hours ago, Joel James said:

Look up Stratton Oakmont. They had public sheets that showed how much money was in the bank, who money was loaned to, how much was left to pay off in each loan, records of every transaction, and more. All publicly available, you didn't even have to be a shareholder.

I unfortunately was not around during the times of Stratton Oakmont. However just getting to know the history and his interview on RON totally inspired me to get into bank management. 

 

Well, y'all now got more people on the battlefield! ^-^

4 hours ago, Joel James said:

My advice? Approach his alliance and see if they are willing to put pressure on him. If not, find his nation and nuke it for every penny that he stole. 

Well, thats the best way you could go about it.

I do feel bad for the current investors. They have no idea if the bank is even making profit or not!

1 hour ago, Epi said:

If your under 500 days old, have never been econ in a major alliance or are not an *Alliance bank, i don't trust you with loans, shares & other private banking.

Well, there do exist quick learners

[Blitz]

10 hours ago, CitrusK said:

I honestly hope that none of my members have touched this bank. Just by this message alone, I can guess that taking a loan would be awful with interest. 

Another funny detail I would like to add here.

Before the bank was closed for the war, there just wasn't a set interest rate. 

It was negotiated as per the client lol!

45 minutes ago, Rosey Song said:

This "Credit Rating Bureau" indeed already exist, but it's still new.  I can seek out a link to it for you if you want to try and help them out, and I believe it really only addresses clients, not the banks themselves.

Seems interesting indeed. Link pls ?

As we are on the same table on transparency, it won't be fair if I comment on that. If there are cons that you think might exist, please let me know too!

[Sir Scarfalot]

 

18 hours ago, Blitz said:

well you might say, its the owner's liberty to do whatever he wants with his Board.

Wait, isn't the whole idea of "shares" being that the shareholder owns a portion of the assets of the bank? And therefore they are the owners?

If someone's gone and taken stuff that someone else owns, that's called robbery. It is no-one's liberty to do that, not at all.

(War is different, there's no expectation nor trust necessary in direct competition. This is more akin to pactbreaking.)

[Blitz]

1 hour ago, Sir Scarfalot said:

 

Wait, isn't the whole idea of "shares" being that the shareholder owns a portion of the assets of the bank? And therefore they are the owners?

If someone's gone and taken stuff that someone else owns, that's called robbery. It is no-one's liberty to do that, not at all.

(War is different, there's no expectation nor trust necessary in direct competition. This is more akin to pactbreaking.)

I mean, yeah! Totally!

Well that was the counter argument that I got from Sempre. Just wanted to throw that in.

[Shiho Nishizumi]

Liberty of action doesn't mean exemption to criticism and backlash.

Also, seizing someone's stocks is an excellent way to plummet it's value due to the destroyed trust with the shareholders in particular, and public in general.

[Blitz]

24 minutes ago, Shiho Nishizumi said:

Also, seizing someone's stocks is an excellent way to plummet it's value due to the destroyed trust with the shareholders in particular, and public in general.

Yeah. people tend to forget that the fuel to successful banks is trust and reputation. 

[Redarmy]

Don't bank with 16 years olds? 

[Joel James]

13 hours ago, Sir Scarfalot said:

 

Wait, isn't the whole idea of "shares" being that the shareholder owns a portion of the assets of the bank? And therefore they are the owners?

If someone's gone and taken stuff that someone else owns, that's called robbery. It is no-one's liberty to do that, not at all.

(War is different, there's no expectation nor trust necessary in direct competition. This is more akin to pactbreaking.)

Problem with this is on Orbis, there is not guarantee. There is no SEC or Federal Government to police these things, and why would he care if the value plummets? Shares on Orbis exist only on paper, so an investor trusts the bank operator that they won't screw the investor out of their hard-earned money. Short of contacting his alliance or attacking him directly, there is no mechanic for retribution. 

[MinesomeMC]

8 hours ago, Redarmy said:

Don't bank with 16 years olds? 

funny, he claims to be 22 but acts like hes 12

[J Kell]

12 minutes ago, MinesomeMC said:

funny, he claims to be 22 but acts like hes 12

That's the zinger

[Sir Scarfalot]

4 hours ago, Joel James said:

Problem with this is on Orbis, there is not guarantee. There is no SEC or Federal Government to police these things, and why would he care if the value plummets? Shares on Orbis exist only on paper, so an investor trusts the bank operator that they won't screw the investor out of their hard-earned money. Short of contacting his alliance or attacking him directly, there is no mechanic for retribution. 

Well, there's no certainty on Earth either. The SEC and the federal reserve and the FDIC are just another layer of assurances, but all assurances can in theory be broken. It's unlikely, sure, but there are still incentives to cheat the system and walk away with the cash IRL as there are in in-game banking.

The real retribution is that once trust is destroyed, the value of the bank plummets. Everyone will want their stuff back, and there won't be any new investors coming in. At that point, sure the guy that robbed the bank gets a lump sum, but he can hardly get any further. That, and there's the political backlash which can very well reflect badly on his alliance and potentially lead to pact cancellations or even open warfare.

[Blitz]

6 hours ago, Sir Scarfalot said:

Well, there's no certainty on Earth either. The SEC and the federal reserve and the FDIC are just another layer of assurances, but all assurances can in theory be broken. It's unlikely, sure, but there are still incentives to cheat the system and walk away with the cash IRL as there are in in-game banking.

The real retribution is that once trust is destroyed, the value of the bank plummets. Everyone will want their stuff back, and there won't be any new investors coming in. At that point, sure the guy that robbed the bank gets a lump sum, but he can hardly get any further. That, and there's the political backlash which can very well reflect badly on his alliance and potentially lead to pact cancellations or even open warfare.

Totaly. Sempre announced a 2 month break. Guess i contributed to not letting what you mentioned happening. ^-^