Control over capital to a highly centralized degree makes their (Jamie’s) job easier. I’m not sure I would blindly call that “demonstrably competent”. The banki

Control over capital to a highly centralized degree makes their (Jamie’s) job easier. I’m not sure I would blindly call that “demonstrably competent”. The banking system is also held up by the government and the reserve system and regulations that make competition low, so it isn’t like some theoretical perfectly competitive space.