I have been saying for 8 years, not 1 cent should have been gifted to the banks in 2008. In essence by gifting so much in 2008 was the end of the free market. There is no free market now. It is totally rigged in favour of the banks. They are in a win win situation. Stephen
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I suspect that the risk management in 2008 is that if there were no bail out who or what would fill the void? Our oriental friends would be in there like a rat up a drain pipe. Australia's banking system has much to comment it with far lower levels of leverage permitted and so more robust deposits in the Reserve Bank.
Berkshire Hathaway has had a nice run at Goldmans. I wonder whether he will stay on? Not his style to have too much politics associated with an investment!
Agreed - hence Euro Central Bank getting hot under the collar about cryptocurrencies. I am out of touch with the EBRD, they seem to have gone quiet - their role should be central to this