We had the power all in the wrong place – too concentrated, too many bankers with monopoly power.

Sunder Katwala, Fabian Society.

There wasn\’t a monopoly in banking. Far from it. And how can "too many people" have monopoly power anyway?

6 thoughts on “Eh?”

  1. It’s just a collection of leftist buzz words, no thought at all from this Fabianoid about what they might actually mean.

  2. “It’s just a collection of leftist buzz words”

    It is unacceptable that you tarnish a vulnerable person with learning difficulties who clearly believes passionately in progressive politics. I am offended by your inappropriate behaviour. You need to attend an outreach course on diversity and dignity.

  3. No not a monopoly- but far too many following similar business models, not enough independence of thought and too many too big to be allowed to fail. Group think encouraged by inappropriate regulation and irresponsibility from too much spreading of risk.

  4. Pat – what regulatory framework do you suggest? And do you think risk should be concentrated instead of spread? What would that mean in practice?

    I ask these questions sincerely; I would like to know your thoughts.

  5. Tim has misattributed this quote. It is from a James Purnell speech, as following the link he gives makes clear.

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