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We need to revisit this after the credit crunch - "Owe Your Banker £1k You are at his mercy; Owe Him £1M the position is reversed; But if everyone owes the ban
by fiftyacorn 2y ago
We need to revisit this after the credit crunch -
"Owe Your Banker £1k You are at his mercy; Owe Him £1M the position is reversed; But if everyone owes the banker £1M then its everyone's problem"
- HPsquared 2y agoAnd if something is everyone's problem, we just ignore it.
- datavirtue 2y agoIt's so efficient.
- margalabargala 2y agoWhat I've heard is "if you owe $1 million, you have a problem. If you owe $1 billion, the bank has a problem. If you owe $1 trillion, the government has a problem"
- wanda 2y agoIf everyone owes the banker £1M, it's the insurer's problem. Then the government's problem when the insurer melts down.