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Very succinct summary.  What is preventing Governments, Bankers and the other stakeholders from going down this road if it is in everyone's interest?  Hidebound conservatism?  Lack of imagination?  A belief they can still game the system to their own greater advantage?  An insufficient appreciation of just how broken and unfixable the current system is?

I know you are proposing a new model of finance, but what would you do with the old ones?

  1. Let insolvent banks go bankrupt
  2. Recapitalise them with public funds
  3. Guarantee all their liabilities
  4. Nationalise them
  5. And then what?  How would you enforce or incentivise a massive change to your model?


notes from no w here
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Feb 20th, 2009 at 11:29:38 AM EST

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