You asked the question about the morality of banking: I was just wondering. I thought that banking had more to do with good sense than morality.
Nah, Germany and France are going to be pissed off if they have to stand surety for Greece (that is if they want the single currency experiment to continue on an even course).
The moral hazard you mentioned about bailouts was inextricably linked with the fact that if there had been no bailout, it does seem that all the banks would have fallen. If true this is the failure of the system. You know, the system of banking that is so without moral weighting, and is purely profit orientated etc. Now that the system has been bailed, how it is regulated after the event (to prevent re-occurrence, for example) seems isn't going to be left to the bankers. And they're rightly pissed off that their perquisites are being screwed with. But the rest of us aren't necessarily. Perquisites are so mutable in the modern age. Look at MP's.
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Nah, Germany and France are going to be pissed off if they have to stand surety for Greece (that is if they want the single currency experiment to continue on an even course).
The moral hazard you mentioned about bailouts was inextricably linked with the fact that if there had been no bailout, it does seem that all the banks would have fallen. If true this is the failure of the system. You know, the system of banking that is so without moral weighting, and is purely profit orientated etc.
Now that the system has been bailed, how it is regulated after the event (to prevent re-occurrence, for example) seems isn't going to be left to the bankers. And they're rightly pissed off that their perquisites are being screwed with.
But the rest of us aren't necessarily. Perquisites are so mutable in the modern age. Look at MP's.