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while engaging themselves, and not a central bank each time (or they would become a subsidiary of the central bank). Hence the capital requirements.

The distinction between law and regulation is interesting in political philosophy. Regulation is mid way between law and interpretation.

Patrice Ayme Patriceayme.com Patriceayme.wordpress.com http://tyranosopher.blogspot.com/

by Patrice Ayme on Thu May 7th, 2009 at 07:08:06 PM EST
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