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FT.com / Companies / Financial services - The pitfalls of financial globalisation grow clearer

Two German banks that dabbled in subprime structured products have had to be rescued. The dabbling arose from an urgent need to raise returns in an over-politicised, over-regulated, but under-profitable German banking system.

The unpoliticised, not over-regulated, and uber-profitable Anglo banking system was under no urgent pressure to raise returns and therefore did no dabbling in subprime, right?

by afew (afew(a in a circle)eurotrib_dot_com) on Wed Nov 21st, 2007 at 04:23:06 PM EST
[ Parent ]
over-politicised, over-regulated, but under-profitable

There's a real negative swing in that, where "un-profitable" is the determinant, the heavy factor that decides.  I agree with over-politicised, I think "over-regulated" is the wrong angle--the angle is "wrongly regulated", so I see the base tone as "you're too political, and you're telling us what to do, and we're still not making money...with money as some strange talisman, not what it can buy but what....protection money....protection from "less", so the huge meme: "less is more"--

Less tax is more investment!

Less profits are more investment!

Less money is more time!

Less energy is more symbiosis!

Less pain is less pain!

Heh....cough!

Don't fight forces, use them R. Buckminster Fuller.

by rg (leopold dot lepster at google mail dot com) on Wed Nov 21st, 2007 at 07:02:11 PM EST
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