ft.com — The starting point for any analysis must be with some harsh realities. The first is that banks enjoy a state-supported licence to create money. No strictly private business can make a credible promise to do that. Banking is a utility in which taxpayers bear much risk. Regulators have to represent the interests of these risk-bearers of last resort.
Dec 13, 2008 View in Crawl 4
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It's quiet in here... can you hear the echo?