mike on Nostr: If you’re a bank you can use customer funds for your own purposes, you don’t need ...

If you’re a bank you can use customer funds for your own purposes, you don’t need to keep any of your customers money or make it available to them other than in small amounts.

If you make huge losses, you don’t go bankrupt, the government bails both your bank and your customers out.

Without a banking license, the above will cause bankruptcy and is illegal and amoral.