No so easy mate. Brazil has one of the largest bank concentration in the world, orchestraded of course by the central bank. We have the choice of 6 major banks, in this order of size -> Banco do Brasil, Itaú, Bradesco, BNDES, Caixa Econômica Federal, Santander
They are all highly regulated and with very little incentive to innovate. So they can screw around and do pretty much nothing at all. The fascist/socialist banking system that exists across the globe is even more pronounced here.
They are all highly regulated and with very little incentive to innovate. So they can screw around and do pretty much nothing at all. The fascist/socialist banking system that exists across the globe is even more pronounced here.
For those of you that can read portuguese, I recommend this article: http://www.mises.org.br/Article.aspx?id=1387