I presume that banking gobbledygook has something to do with how our banks are organized and regulated, right? I don't know if I would go to a banker asking for advice about that, they don't exactly have a reputation for infallibility these days.
It seems to me that letting a bank loan out a lot more money than it has on reserve is precisely equivalent to a government printing banknotes with no backing. Of course, I guess its different when free enterprise does it. Somehow, its more legitimate.
Face it Tom, you are just convinced that business people are naturally smarter and more virtuous than anyone else, and we should let them have anything they want.
I don't. I don't trust the bastards.
And to paraphrase Sister Sara, that strategy has worked out just fine so far for me.
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Re: Okay, you are pulling my chain.
The whole thread (19 posts)
- Corporate Libertarianism and the betrayal of Adam Smith
- "planned and managed by the world’s largest corporations to maximize financial returns to top managers"
- I constantly link to people who encapsulate my opinions better than I sometimes can.
- Another chapter from the same book, I see.
- You agree with the bulleted points? Tell me you're just pulling my chain.
- Re: You agree with the bulleted points? Tell me you're just pulling my chain.
- Okay, you are pulling my chain.
- Re: Okay, you are pulling my chain.
- Okay, you are pulling my chain.
- Re: You agree with the bulleted points? Tell me you're just pulling my chain.
- Re: You agree with the bulleted points? Tell me you're just pulling my chain.
- You agree with the bulleted points? Tell me you're just pulling my chain.
- Another chapter from the same book, I see.