Oh Trevon...

[Muskie]

I'm curious about the business side of this after a recent trip to Colorado. Apparently they can't put the money into federally insured banks. What do they do with mountains of cash? How do they secure it? Invest it? One guy was giving the industry credit for a lot of the local development saying after they had houses, cars, boats and other toys, they invest it in development. Is there much (or any) truth to this?

I read an article (rolling stone maybe) about a year ago that described the creation of security companies and private banks to assist with money that could not be deposited in traditional institutions.


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[xu82]

I read an article (rolling stone maybe) about a year ago that described the creation of security companies and private banks to assist with money that could not be deposited in traditional institutions.


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Yeah, there would have to be some new industries popping up to serve a whole new set of needs.

[xudash]

I read an article (rolling stone maybe) about a year ago that described the creation of security companies and private banks to assist with money that could not be deposited in traditional institutions.


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One of the Colarado entrepreneurs PURCHASED a closed bank branch equipped with a walk-in safe to handle his "liquidity management" needs.