welcome to the new socialist kingdom of Britain

[Kidlicious]

The market fundamentalists expect more regulation, but also that this will hurt companies and deregulation to resume when they can convince people that that's what's happening.

Yes, it's comical, but their reasoning won't be different.

[chequita guevara]

Hence the term, class struggle.

[thesilentone]

I'm not an economist so what i'm about to suggest might have some obvious flaw, but why couldn't the govt just guarantee the money owed to individuals (personal bank accounts, pensions etc) and ignore the intrabank debt? The argument I see is that the death of so many banks would cause a lack of loans/investment capital and would lead to a weakened economy and instability due to cash flow problems, but couldn't this be remedied by loans straight from the government? Then once govt loans are repaid the money could leave the system totally instead of this avalanche of money supply growth the banking industry currently creates. You'd have to keep it fairly free of political control, ala the bank of england setting uk interest rates but I really don't see where the negative is?

The more I've been reading about how banks operate lately just leaves a really bad taste in my mouth. The 1/10 reserve system? The fact that the mortgage the bank gives you is created out of nowhere? The money supply used to be fully controlled by govt, why is it now left to private businesses with ulterior motives?