Saturday, Dec 19, 2009

Banker bashing by the b.o.e.

Times on line: When bamboozling spins out of control

A financial plumbing system that should be as small as possible, simply channelling money from savers to borrowers as cheaply and unobtrusively as possible, has instead transformed and furred up into a vast, Byzantine system of gold-plated pipes and valves of ludicrous complexity.

Posted by waitingtobuy @ 06:53 PM (1047 views)
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1. dbc reed said...

Rather a naive view of banking.The Green New Deal version of the banking system is contained in Section 4 of its latest report "The Cuts Won't work" by such solid citizens as Larry Elliott, Ann Pettifor and Richard Murphy:" First it creates the money loaned out of thin air,then it charges interest having done so " A loan is a loan ,is a totally new amount of money.

Saturday, December 19, 2009 09:21PM Report Comment
 

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