Monthly Archives: May 2013

Misunderstanding the banking industry

–  a working paper by Richard Whelan

The continuing difficulties with the Banking Industry, particularly in Europe, are due to a very simple error-assuming that the Banking Industry is part of the private sector, and regulating and dealing with it on that basis. In fact it is a unique hybrid of the public and private sectors, combining the worst features of both. Until that realisation is fully integrated, the Banking Industry will continue to create huge difficulties for us. Continue reading

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