Bank shutting down: Problems inside Second Life

Second Life is a game where you can feel that you are in a different world, and indeed you are. It is a world with different rules, totally online and where you can be somebody different from what you are in real life, and also do something different. This lofty objective seems to have been getting badly bruised in the last few months. First, it was the whole concept of gambling inside Second Life that got clobbered by the real-world rule about no online gambling in the United States. And now this, a closure of a bank in the online world has prompted calls for monitoring of Online Financial Institutions by the actual real world monitoring bodies. Calls for monitoring of something that happens in an Online Game may seem crazy for an outsider, but things in Second Life are not so disconnected from the real world.
The currency of Second Life, the Linden is not disconnected from actual Dollars of the real world, with there being an actual conversion factor. And hence, the closure of a bank, Ginko, located in the online game, has had an impact on the real life wallets of people playing the game. The affected people are now obviously calling for greater supervision:

The recent collapse of Ginko Financial, a "virtual investment bank" in Second Life, has spurred calls for more oversight, transparency and accountability, especially when it comes to business practices in the metaverse. Last week, Ginko Financial -- an unregulated bank that promised investors astronomical returns (in excess of 40 percent) and was run by a faceless owner whose identity is still a mystery -- announced it would no longer exist as a financial entity.
The declared insolvency meant the bank would be unable to repay approximately 200,000,000 Lindens (U.S. $750,000) to Second Life residents who had invested their money with the bank over the course of its three and a half years of existence.

Combined with recent stories about the link between people who have had romances online and the obvious resentment felt by their offline mates, it seems that the original dream of 2 separate worlds, an offline world where you live in reality, and an online world where you live the life you want to lead, this dream is gone. There is just too much linkage between these 2 worlds, and to wish otherwise seems unlikely. What all of us are just waiting for is the first divorce case based upon a person being too dedicated to an online partner, and real world spouses. This will get to be even more problematic as you get better game playing equipment that provides a sensory feeling of the game.