Truth Bank – the bank we can all feel good putting our money in.

Inspired by Umair Haque and a retweet of a comment I made, I would
like to introduce Truth Bank. Truth Bank was created at the beginning
of the 2008 meltdown as a conversation I had with my hedge fund
managing in-law. He asked for a cool business idea and I said
“truthy bank, a bank that publishes all it’s transactions, to the
public everyday. A totally and 100% transparent bank”. He didn’t like
the idea citing, he’d lose any competitive advantage he had in
finding new assets to invest in. I gave up on truthy bank until I
heard about banksimple.com from a friend and reading “the new
capitalist manifesto”. Well, banksimple.com is working off the same
premise that banking can done better, be better and you know actually
help people with their money without being evil. As for the issue my
banker buddy brought up, I didn’t understand at the time I thought of
Truth Bank, was that it’s truthyness is it’s competitive advantage.
Truth bank is going to stand for a few core values.
1. We will not deceive our members.
Truth will be paramount. If you can’t a afford something we will let
you know. If your business plan has a major hole we’ll let you know
and help with a better idea. We will be honest, always. If you come
to us, you come for truth.
2. We will only invest in “real” businesses.
No ponzi, no hedge funds, no environment destructing businesses will
ever get a dollar from Truth Bank. We’ll only put your money in
forward thinking, betters businesses that you can feel good about.
3. Transparency in everything.
Our accounts will be public. Every dollar, every transaction will be
posted publically for the world to see everyday. No quarterly
postings, no hidden accounting practices, everything will be out front
and available for folks to see.
4. We’ll be a members in your community.
Truth Bank will invest in businesses where it’s branches are located,
We’ll be the Bailey Savings and Loans of your Bedford Falls. By being
local, we invest in you and the people who live in the neighborhood,
your failure is our failure, your triumph is our triumph.

Posted via email from Laurent Courtines Free Online | Comment »

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