"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Separating the Banking Wheat from the Chaff
"If the free market were at work here, depositors would close down an ailing fractional reserve bank in minutes by lining up to retrieve their deposits. But modern banking is anything but a free market. Banks and government are joined at the hip. Everyone knows about Too-Big-To Fail, but closing down the small fry seems to be left to regulatory whim."
- Login to post comments