I want to start a Bank..

Quote from TudorJones:

I know, a bold step.

But, I'm up for the challenge.

So, how many licenses do I need.. I guess, you need a license in each state you wish to have a customer ? & do I need any special education requirements etc to be able to accept deposits and lend out money.

Any help, from anyone who know anything about this help much much appreciated.
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I have no doubt that, as soon as you open your doors, you will have a long line of potential borrowers waiting to do business with you. Good luck trying to attract depositors, though. Of course, you could go wholesale. Yeah, good luck with that as well.
 
Quote from TudorJones:

But, I won't be able to get any banking customers from NY or FL.

I need a bank registered and ready to do business in the US.

& I am not a real proponet of going offshores to save some taxes. I can do that here in the US.
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Why not? There is no law which prohibits them to have accounts offshore .
Why do you must have a bank registered in US ? It just depends what banking activity you want to do . Since you are not telling, we are not able to give specific answer .
 
A buddy of mine started a bank in Florida..that was after he sold his ECN to Citgroup but still....A LOT of money in Banking...they have a constant spread on what they pay to borrow vs what they charge to borrow.
 
Quote from TudorJones:

I don't mind asking questions, no matter how retarded it may sound.

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Many people ask questions they know the answer to, esp important to find out who's who on the net.
 
you can go offshore make a business plan a get 2.5m$ to start bank in curacao if you got this and the business plan you can go and of course background of your buisness before start a bank.
 
Quote from TudorJones:

I don't daytrade.. My size it little too big for me to get in and out like the way I used to and in a cost effective manner... unless its me just playing around sometimes to test out different things and new happenings in the market.
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Yes, when you own in totality 100 shares of a penny stock, it can be hard...
 
Quote from TudorJones:



Trust me, even if I am managing a billion dollar fund, nobody will ever know about me. I am the better trader, and I am even more private.
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I see you are trying to inherit the mantle of stock_trad3r. "How low can you go"
 
Quote from lainerbank:

you can go offshore make a business plan a get 2.5m$ to start bank in curacao if you got this and the business plan you can go and of course background of your buisness before start a bank.
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I think his problem is, he is looking for a place that will accept his fortune of $250 as sufficient starting capital.
 
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That is precisely why I've been better than most in everything I do.
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I am the better trader
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I'm singlehandedly the most successful trader that post here, .
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I'm the real deal
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I'm the best resource anyone anywhere has.
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In addition to my Ivy League undergraduate degree, I have 3 master's degrees as well. I am a fan of Mr. Timmy Sykes
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I have to be honest with you , I'm the greatest trader ever
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I was surfing around the site tonight and I read a bunch of your posts in different threads.

I noticed there's a common theme in your posts. In probably half of them, you either tell us how good you are, or how much money you make. That may sound like a bit of an exaggeration, but I actually think it's pretty accurate, just based on what I read tonight.

Anyhow, good luck opening your bank.
Quote from TudorJones:
What exactly is AUM ??
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