Perki

Goldman Sachs as an Internet Bank? Pleeease!

Regarding the on-Line banking expansion:

If Goldman and the Treasury/Fed are expecting widespread bank failures, there may be an opportunity for a house that can quickly take over and assimilate a large number of banks.

An aggressive company with a strong information tech resources and access to federal funding like Goldman can do high volume bank takeovers. Utilizing online banking and closing of local "brick and mortor" facilities and laying off local staff.

Frankly, it would be possible to take over a large number of banks overnight with a good IT framework in place. I suspect Goldman may be building just such an a framework.

Of course, I am just guessing here and have no inside information.