Quote:
Originally Posted by Stuart
All true (IMO), and the signs have been there since before Barings went bust.
The need for control was there as well, and this is something that both the Banks themselves and the Governments have singularly failed to implement.
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As 1) says governments controlled the wrong things. In our case government and BoE ensured the money supply went wrong and the property bubble swelled and swelled and swelled to try and siphon taxes off the bubble to support increased spending.
People tend to blame capitalism totally, but most of the issues have their root within government and regulatory policies, capitalism just grew the seed.