[yodelshady]

Sure but the problem might be internal find-the-lady accounting.

In fact it probably is. Much like internet advertising has to be. You can't have an entire economy based around free services funded by advertising for other free services, you can't have returns generated solely by investing in companies that invest in other investors. Unless massive numbers of private sector backers have been defrauded, the lady is somewhere. Though maybe not somewhere that taxman looks.

I might buy slighter fewer Starbucks, or Fords, or flights if they were no loyalty programs, but I'd be spending zero money on StarBank/FordBank/DeltaBank without the product to go with it.