Thursday, January 28, 2010

Mervyn King - Limited Purpose Banking ?

Today The Times (page 4 paper copy) reports of Mervyn King's 'guru' Laurence Kotlikoff  who suggests that banks be transformed into simple intermediaries between borrowers and lenders. Fractional reserve banking would be ended. Read this article to find out more. Kotlikoff meets King in February. 

Are we at last seeing the mainstream media take note of alternative economic arrangements? Watch out for the reaction from the banking industry...

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