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?


4 thoughts on “Eh?”

  1. Och, he’s always been a silly tit. And a little mad too, if appearances are any guide. Which I suppose they are not. Or not always.

  2. Well said Mark W. Quite what the Work Foundation adds to the stock of human happiness is a mystery.

  3. I think this is

    “creating value in the eyes of the government”, i.e. a back-door way to utterly control the minute detail of bank lending and investment operations.

    Soon the “value” will be “green tech” or lending unsecured amounts to pet community projects where the directors skidaddle off and are never caught or even pursued.

    Thats what Jolly Roger thinks it means.

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