Is Bigger Banking Better?
from The Daily Bell
Big banks are good for society, says George Osborne … Big banks are good for Britain and must not be broken up, according to George Osborne, as he argued the country’s largest lenders were beneficial to society. George Osborne told the Commission on Banking Standards: ‘If we aggressively broke up all of our big banks, I am not sure that, as a society, we would benefit form it.’ – UK Telegraph
Dominant Social Theme: Big banks are necessary for the progress of civilization.
Free-Market Analysis: So now the truth comes out. Perhaps “big” banks did not evolve out of marketplace necessity after all. Perhaps they are part of what we call directed history.
We’re led to believe that big banks are part of a larger evolution of commerce. But if there is one thing the Internet Reformation has shown us clearly it is that much of what we assumed was an evolution of reality was actually a procession of regulatory impositions.
Continue Reading at TheDailyBell.com…
2012-11-22 16:02:31
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