…e it was when I first realized that my Richard Scarry impression of how banks worked was way wrong. Only two decades later did I learn to see the FIRE industries (Finance, Insurance, and Real Estate) as extractive ones. They aren’t there to help mom-and-pop companies build responsible businesses, but to extract value from their naiveté. Like today’s post-college youth are learning, loans aren’t there to help you be smart, but to bend your will.
