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sorry: most of the traditional activities of retail banking would be in the utility bit. And the utility banks would be required to remain the formal counterparty to mortgages...

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Sun Mar 8th, 2009 at 06:41:01 AM EST
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In particular, banks should not be allowed to engage in securitisation of loans subject to regulatory capital.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Migeru (migeru at eurotrib dot com) on Sun Mar 8th, 2009 at 06:45:00 AM EST
[ Parent ]
And securitisation is investment banking.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Migeru (migeru at eurotrib dot com) on Sun Mar 8th, 2009 at 06:55:29 AM EST
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