We had the power all in the wrong place – too concentrated, too many bankers with monopoly power.
Sunder Katwala, Fabian Society.
There wasn’t a monopoly in banking. Far from it. And how can "too many people" have monopoly power anyway?
Eh?
March 29th, 2009 · 6 Comments
Tags: Idiotarians
6 responses so far ↓
1 KMcC // Mar 29, 2009 at 1:07 pm
It’s just a collection of leftist buzz words, no thought at all from this Fabianoid about what they might actually mean.
2 Kay Tie // Mar 29, 2009 at 1:37 pm
“It’s just a collection of leftist buzz words”
It is unacceptable that you tarnish a vulnerable person with learning difficulties who clearly believes passionately in progressive politics. I am offended by your inappropriate behaviour. You need to attend an outreach course on diversity and dignity.
3 Pat // Mar 29, 2009 at 3:55 pm
No not a monopoly- but far too many following similar business models, not enough independence of thought and too many too big to be allowed to fail. Group think encouraged by inappropriate regulation and irresponsibility from too much spreading of risk.
4 dearieme // Mar 29, 2009 at 4:37 pm
“not enough independence of thought “: be reasonable – they were bankers.
5 KMcC // Mar 29, 2009 at 7:36 pm
Pat – what regulatory framework do you suggest? And do you think risk should be concentrated instead of spread? What would that mean in practice?
I ask these questions sincerely; I would like to know your thoughts.
6 Sunder Katwala // Mar 30, 2009 at 7:55 pm
Tim has misattributed this quote. It is from a James Purnell speech, as following the link he gives makes clear.
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