Interesting, by the way, that you should call those "technical details." I think it's fair to say that they were hidden away in the small print, but anything that allows, say (and I don't even know whether this is in the small print), a French bank to claim its investment in IT as tier 1 capital is, well, it ain't your father's technical details, is it?
You have a touching faith in simple macroeconomic principles. I hope you're right. They tend to come good on a hindsight basis, with appropriate Basel-like adjustments, so I'm sure it's a more consistent system of belief than, say, chicken-strangling by woad-encrusted dentally challenged tribal elders.
I'm not complaining though. Your discussion of German tergiversations (in the spirit of the German enlightenment, zurückabzweigungen) is completely absent elsewhere. I might disagree with this notion of "modern banking," but not as much as I'd like, say, to punch Niall Ferguson in the face; and a clear description of the consequences of banning borrow short/lend long is, again, something completely absent elsewhere.
I still think you're oversold on the intertwining of the population and banking system, though. Easily explicable, since you live in London, where the banking system is (minimally) responsive. For the rest of us, not so much.
no subject
You have a touching faith in simple macroeconomic principles. I hope you're right. They tend to come good on a hindsight basis, with appropriate Basel-like adjustments, so I'm sure it's a more consistent system of belief than, say, chicken-strangling by woad-encrusted dentally challenged tribal elders.
I'm not complaining though. Your discussion of German tergiversations (in the spirit of the German enlightenment, zurückabzweigungen) is completely absent elsewhere. I might disagree with this notion of "modern banking," but not as much as I'd like, say, to punch Niall Ferguson in the face; and a clear description of the consequences of banning borrow short/lend long is, again, something completely absent elsewhere.
I still think you're oversold on the intertwining of the population and banking system, though. Easily explicable, since you live in London, where the banking system is (minimally) responsive. For the rest of us, not so much.