Banking in very uncertain times
8
votes
@Sahil Bloom: With the rapid deterioration of the Russia/Ukraine situation, you're going to hear a lot about SWIFT in the coming days...Here's a quick breakdown of what it is and why it matters:
@Patrick McKenzie: Unfortunately the way this is usually implemented is "X stamps and we fire you as a customer."In much of the world, banks are not obligated to continue doing business with people who cause them lots of headaches or cost, and the headaches/cost are not evenly distributed. https://t.co/tufbFyRitG