Let’s welcome the enmity of bankers
A superb article by David Potter, a real businesman who also served in the Bank of England.
There is tons of good stuff in here, and if I had to pick one sentence from his recommendations, I would perhaps pick this one:
I think the first action is to downsize the banking sector in the UK
It ends like this:
“The power of the monopolies must be broken. President Obama has been very weak in my view, compared to Franklin Roosevelt. In a famous speech in Madison in 1936, President Roosevelt referred to “…monopolies in finance and business. They are unanimous in their hate of me, and I welcome their hatred.” Why can’t Obama say that? Why can’t Cameron say that, or Ed Miliband for that matter? “I welcome their enmity”.
Quite so. More on this fairly soon.
Good stuff indeed and his background is interesting in this context. It means that he can “see” complexity in a different way. What is dangerous, however, is that there are other adverse things going on that make corrections more difficult in that we may have crossed the threshold into a different world. On Friday, I posted on the matter of multiple currencies for one.
Apologies, correction, I posted on Thursday in “Pieces of Eight”.