SecondLife Bans Unregistered In-World Banks

GuruBuckaroo writes "Virtual Ponzi schemes — pardon, "Banks" — have finally been given the boot by the policymakers at Linden Lab's Second Life. According to the company's latest blog post: 'As of January 22, 2008, it will be prohibited to offer interest or any direct return on an investment (whether in L$ or other currency) from any object, such as an ATM, located in Second Life, without proof of an applicable government registration statement or financial institution charter. We're implementing this policy after reviewing Resident complaints, banking activities, and the law, and we're doing it to protect our Residents and the integrity of our economy.'"

Comments

Greedy bastards

[Killer Instinct]

Greedy bastards....guess who makes the $L now, fool.

Second Life ...

[Archangel Michael]

... for those that failed in the first one.

I must be getting old, I'm sounding like the people I despised when I was younger.

Re:good time to become a loan shark

[Cassius Corodes]

So says Austrian-school economics Well there is a good reason why Austrian-school is referred to as the creationism of economics.

With a glorious world wide following of 75 economists.