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Now, because of the financial crisis, which has nothing to do with wind power (I don't think a wind farm as such has caused any bank to lose any money yet), lending capacity is drying and seriously handicapping projects - including for the projects I'm working on.
Irresponsible bankers and financiers are a truly evil breed. In the long run, we're all dead. John Maynard Keynes
I object to only pointing out that it is irresponsible bankers and financiers who are truly evil since there are so many other enablers...including irresponsible consumers.
I wonder: Suppose we define a banker as someone who facilitates the saving and exploitation of saved money in a manner that benefits the short and long-term community requirements. Now, if there are instead those who are called bankers who instead shenanigan the system such that every few years (after the previous shenanigan gets patched up) a new fix is required...are these putzes really bankers and financiers at all, or just crooks and incompetents in positions above their skill? Never underestimate their intelligence, always underestimate their knowledge.
Frank Delaney ~ Ireland
Suppose we define a banker as someone who facilitates the saving and exploitation of saved money in a manner that benefits the short and long-term community requirements.
The problem is that what you just described is not a Bank - it's a "Credit Union", or "Deposit Taker" (as they used to be called here in the UK).
If all Banks did was take in savings and lend them on, then there would be no "new" money = credit, and no development, either.
Banks create credit as a multiple of their capital base - essentially their Equity.
And doing so does indeed involve risk.
The problem has been that banks have been "outsourcing" that risk to a "shadow banking system" of investors through the mechanisms of securitisation, credit derivatives, credit insurance, and toxic mixtures of all three.
Now that the capital provided opaquely by these investors has gone, it's only governments who can replace it. "The future is already here -- it's just not very evenly distributed" William Gibson
2 - the study I quote only uses data up to 2006, so the boom in solar over the past 2 years is probably not visible in these graphs. In the long run, we're all dead. John Maynard Keynes
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