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Bank based finance is a huge part of the reason that Europe isn't having the problems that the US is right now, excepting of course the contagion that's spreading from Wall Street.

Bank capital has more incentive to think long term, rather than engage in speculative investing.  Maybe there should be a small securities transaction tax to slow down volume on mercantile exchanges and create an incentive for long(er) term investing.

And I'll give my consent to any government that does not deny a man a living wage-Billy Bragg

by ManfromMiddletown (manfrommiddletown at lycos dot com) on Sun Sep 21st, 2008 at 04:39:16 PM EST
[ Parent ]
But Bank-based finance is subject to Basel II which is a bloody mess.

A vivid image of what should exist acts as a surrogate for reality. Pursuit of the image then prevents pursuit of the reality -- John K. Galbraith
by Migeru (migeru at eurotrib dot com) on Sun Sep 21st, 2008 at 05:20:13 PM EST
[ Parent ]

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