Well it's not their frontline's fault but RH's executive team that is ultimately responsible. They've been in business for 6-7 years now and just discovered this issue? It's unacceptable, IMO. Hard to take them seriously when things like this happen.
It's funny because this is how money is created in the American Economy -- through recursive loans like this from banks. Since most money is digital now, nearly every loan becomes another person's bank balance and every bank balance is subject to be lent out. With a federal reserve requirement of 10%, the theoretical max leverage ends up being 10x so $100,000 of bank-created money for every $10,000 entering the banking system. This assumes the system works as intended and a bankster hasn't yet found a Robinhood-like glitch in the financial system to create unlimited money.
