What is a Bank?
What is a bank? ‘Bank’ is purely another word for other people’s money and specifically, other people's debts.
Before 2007, banks, like economists, operated behind a façade of competence, using the impenetrability of financial language successfully as a protective wall to keep people from asking too many questions.
Once the myth of the competence of banks was blown by the crash, banks had to operate behind a different facade: independence. Banks are like petulant children in a playground. They think they are able to do everything themselves, but when something goes wrong, they call in the adults to sort it out.
Jacques Peretti DONE – The Secrets Deals That Are Changing Our World
Do you agree with the above?
