I really am getting sick of reading nonsense like this. Nonsense where our friends on the Left completely miss the point about banking and its failings. One significant point they always miss is the difference between saving and investing. So let me make it clear. The process of saving is where one aims to...
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Posts Tagged ‘ Banks ’
The Difference Between Saving and Investing
Executive Pay Nonsense
Well it seems David Cameron has jumped on the bash the rich merry go round… David Cameron has indicated he will back plans for shareholders to have a veto on executives’ pay amid growing demands to curb lavish salaries and bonuses. Until now shareholder votes on pay deals have not been binding so they...
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Guido on ownership
Guido had a good post the other day commenting on how one of the main causes of the recent crisis was the change of ownership structure of the banks. For the majority of their history investment banks were partnerships with unlimited liability, compared to now when they are public listed, limited liability companies. As he puts it, flotation: transferred...
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Anyone free this weekend?
I saw in tonight’s Evening Standard that the usual suspects are planning on occupying the London Stock Exchange this weekend. Given how the city is always a ghost town on a Saturday I really have to wonder what they hope to achieve, though it will be interesting to see how the media coverage compares...
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Quote of the Week
‘It is here that one can most ferociously blame Fed Chairmen Alan Greenspan and Ben Bernanke, and their decade and more of irresponsibly cheap money. By distorting price signals throughout the economy, and producing burst bubble after burst bubble without any significant improvement in living standards except at the very top, they have not...
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Idiocy as Standard
I swear reading the Evening Standard is bad for my digestion. Case in point, a piece in Friday’s business section by Anthony Hilton entitled ‘What Banks is need is Nationalisation” which caused my jaw to hit the floor. the public interest demands that someone performs the basic banking function. That requires capital and if it...
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