Subject:
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Re: eBay buys PayPal
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Newsgroups:
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lugnet.market.services
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Date:
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Tue, 9 Jul 2002 01:27:25 GMT
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Viewed:
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2413 times
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"Amy Hughes" <lugnews@public.atreides.org> writes:
> > PayPal is a tad controversial - it's got jaw-dropping Ts&Cs and it's
> > not very friendly to people outside the US. Also, there are occasional
> > foul-ups, and several states want much closer scrutiny - if PayPal
> > looks like a bank and it acts like a bank, then it should regulated
> > like a bank."
>
> Heh. You don't suppose a company that uses customer account funds to cover
> operating expenses is free of accounting irregularities, do you? Will this be
> eBay's poison pill?
You don't know much about banking, I trust... Do you really think that
every penny in your checking or savings account is actually held just
for you? Heck no, they spend it. Sometimes they even have to borrow
to cover it when you make a withdrawal - that's what the Prime Rate is
all about.
Though I do think that banking regulations should apply to PayPal, I
don't see anything wrong with anything I've seen them do...
--Bill.
--
William R Ward bill@wards.net http://www.wards.net/~bill/
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