And just how, Willy, will someone demonstrate this?
Banks need to report more extensively and exhaustively on their operations…….. and how their lending has created genuine economic value.
And more importantly, why will they have to do this?
We don\’t insist that a baker demonstrate that he\’s creating "genuine economic value"….nor a car maker, nor a journalist nor a ….well fill in your own blank.
In fact, there are so many problems with this suggestion I\’m not sure where to start. What is "genuine economic value" anyway? Whatever Will Hutton approves of?
I dunno, maybe we could use some proxy. How about generating profit as a measure of adding value?
Any other suggestions?