Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
Why do we need private banks at all? | 133 comments (133 topical, editorial, 0 hidden)
Re: Why do we need private banks at all? (none / 0)
i want to reduce the size of the private financial sector.
by rootless2 on Tue Feb 28th, 2012 at 06:12:25 PM EST
[ Parent ]
Re: Why do we need private banks at all? (4.00 / 2)
I think the deposits - as they are not necessary for loans except by government regulation - should mainly be seen as a system for payments. That needs to be regulated and international payment systems other then american is needed so that legal transactions between country A and B is not nicked by US banks and regulators, but I am not so sure it neads to be public.

rootless2:

i want to reduce the size of the private financial sector.

That is all good, but I think it is loans - the creation of and allocation of credit - that is the power issue.

Then again all concentration becomes a concentration of power. Perhaps savings and loans should be regulated as mandated seperate businesses.

Sweden's finest (and perhaps only) collaborative, leftist e-newspaper Synapze.se

by A swedish kind of death on Wed Feb 29th, 2012 at 06:28:55 AM EST
[ Parent ]
Now that's radical (none / 1)
Perhaps savings and loans should be regulated as mandated seperate businesses.
Now that's two in a row in a few minutes... Are we ready for a new issue od "Socratic Economics"?

There are three stories about the euro crisis: the Republican story, the German story, and the truth. -- Paul Krugman
by Carrie (migeru at eurotrib dot com) on Wed Feb 29th, 2012 at 06:30:48 AM EST
[ Parent ]

Why do we need private banks at all? | 133 comments (133 topical, 0 editorial, 0 hidden)
Display: