James Buchan: Suicidal Banking
on Tuesday, May 25, 2021James Buchan Money Quote saying bankers commit dangerous and self-destructive things that put their depositors at risk. James Buchan said:
“At the heart of banking is a suicidal strategy. Banks take money from the public or each other on call, skim it for their own reward and then lock the rest up in volatile, insecure and illiquid loans that at times they cannot redeem without public aid” — James Buchan
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