Timmy elsewhereSeptember 20, 2013 Tim WorstallTimmy Elsewhere3 CommentsAt the ASI. Zoe Williams is just such a card, eh? previousOn not understanding the damn pointnextOn banning smoking in prisons 3 thoughts on “Timmy elsewhere” TimothyA September 20, 2013 at 9:17 am On the current account point, wasn;t the first bank to introduce free current accounts the state owned Girobank? This lead to the other banks offering free current accounts subsidised by charges for overdarfts etc. That model was popular as most people got free banking and only a few were hit by the charges. Luke September 20, 2013 at 12:39 pm Tim, you say that banks consistently lose money and/or fail to make a decent return, thus perfectly competive. I’ve no reason to doubt you. A query for those who understand these things. Why do some markets consistently lose money for those trying but failing to be ruthless capitalists? Motor insurance is a consistent loser overall, even though there is a captive market. But no one drops out. Professional indemnity insurance for solicitors is another consistent loser, despite a captive market. Whenever someone drops out, some obscure Latvian/Irish insurer comes in, keeping the rates down. Newspapers are another, but they are fun/prestigious/influential. Motor insurance is not. What is it about certain markets that makes capitalists tolerate endless losses? To all readers here. Please don’t answer this question! I shall answer it in my ASI post tomorrow morning. DBC Reed September 23, 2013 at 8:55 am How are banks so wonderfully competitive? People only change banks every 36 years on average, so a lot never change at all .Nationalise them and stop their endless embarrassing lying.Whose money supply is it anyway?. Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment Name * Email * Website Save my name, email, and website in this browser for the next time I comment.