What could go wrong with allowing big business to generate the unit off account "out of nothing" in addition to banks?
The push is on to erase the line between banking and fintech.
The American Banker
Why are we still separating banking and commerce?
The American Banker
Why are we still separating banking and commerce?
Peter J. Wallison, senior fellow at the American Enterprise Institute and former general counsel of Treasury between 1981 and 1985
If banks are to be unregulated then they should surely be UN-PRIVILEGED too.
ReplyDeleteNot that I believe that banks should be regulated beyond the ordinary laws against fraud and insolvency since how does one regulate government-privileged counterfeiting? Without becoming an accomplice to theft one's self?
So the question should be "Why haven't we separated government from private credit creation?"
ReplyDelete