Display:
Greece may be about to find out.

It's going to be interesting to see where we are a year from now.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Wed May 5th, 2010 at 09:03:04 AM EST
[ Parent ]
AP via google: 3 dead during Greek riots
Greek fire officials say three people have died in a blaze that broke out at an Athens bank during rioting over government austerity measures.

...

Protesters were hurling Molotov cocktails at police and buildings. At least two buildings were on fire, while hundreds of people were involved in the clashes.

The government agreed to drastic budget cuts to win bailout loans from the European Union and the International Monetary Fund.



The brainless should not be in banking -- Willem Buiter
by Migeru (migeru at eurotrib dot com) on Wed May 5th, 2010 at 09:08:25 AM EST
[ Parent ]
I think your sig line needs updating: "The brainless should not be in banking. Neither should the spineless. And certainly not the brainless and spineless." Were that injunction heeded it should generate lots of openings in banking.

As the Dutch said while fighting the Spanish: "It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed May 5th, 2010 at 09:19:59 AM EST
[ Parent ]
I keep telling you people we should start our own bank.

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Wed May 5th, 2010 at 06:18:21 PM EST
[ Parent ]
I'm game.

The brainless should not be in banking -- Willem Buiter
by Migeru (migeru at eurotrib dot com) on Wed May 5th, 2010 at 06:20:43 PM EST
[ Parent ]
I believe it's been discussed, informally, on a number of occasions.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Thu May 6th, 2010 at 10:50:35 AM EST
[ Parent ]
Now we just have to decide what kind of a bank it should be. ;)

Peak oil is not an energy crisis. It is a liquid fuel crisis.
by Starvid (arvid.hallen at gmail.com) on Thu May 6th, 2010 at 11:53:17 AM EST
[ Parent ]
How could this be done practically? Wouldn't we need massive capital to start with?

Earth provides enough to satisfy every man's need, but not every man's greed. Gandhi
by Cyrille (cyrillev domain yahoo.fr) on Thu May 6th, 2010 at 12:12:38 PM EST
[ Parent ]
No, you need investors to provide the cash, and a management team with a track record - or at least a name or two - to run it.
by ThatBritGuy (thatbritguy (at) googlemail.com) on Thu May 6th, 2010 at 12:35:52 PM EST
[ Parent ]
I think the biggest barrier to entry is not capital but regulatory compliance.

Basically, I think you would have to run a business for a few years which would not be a "bank" and after accumulating a number of operational records for maybe 5 years you could become a "bank".

The easiest way to start a new bank is to buy a failing one, possbly.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Sat May 8th, 2010 at 05:28:45 PM EST
[ Parent ]
On a related point we really should increase ESA's budget. Finding out how this all turns out from a hollow asteroid somewhere near Jupiter has a certain charm to it.

Wait this is important. Someone is wrong on the Internet.
by generic on Wed May 5th, 2010 at 09:33:40 AM EST
[ Parent ]

Display:
Login
. Make a new account
. Reset password
Occasional Series