This is a story about money changing hands, and so, like clockwork, here's Aaron Greenspan to use it as a coatrack for a discussion of his own company.

Cody said it better:

http://news.ycombinator.com/item?id=3379164

The kernel of Greenspan's problem: to operate a business that allows random people in California to transfer funds using you as a middleman, you need to (in effect) post a bond, so that when you do something dumb and put yourself out of business, you don't lose millions of dollars of consumer money.

Greenspan would like the amount of these bonds to be more transparent and, by repeated implication, much lower than they are; their current amounts can best be described today as "if you have to ask, you can't afford them".