Beat the System: Facebook will soon have millions of customers at the Bank of Zuck

Do you want to open a bank account with Mark Zuckerberg and Facebook?

No, me neither.

It’s bad enough that Facebook FB, +0.85% says it won’t be paying a nickel of interest on any money that customers keep in the company’s new Libra digital accounts.

But why would I want to lend my money to Zuckerberg and his pals free of charge to help them take over the world? Spare me all the talk about helping the “unbanked” and the world’s poor.

This is business. Big business.

Zuck’s bank

Banking is the world’s most lucrative industry. According to FactSet, the world’s publicly traded banks have a total market value of around $4.5 trillion.

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