Bank of Canada Governor Mark Carney, joining central bankers everywhere with new details of their jargon-filled plans to flood the world with more jargon, declared yesterday in Montreal that "we are awash in moral hazard. If left unchecked, this will distort private behavior and inflate public costs." True enough, but can you guess where the moral hazard came from -- and who's doing the most to let it run unchecked?
The fact is we're awash in central bankers. From Mark Carney to the U.S. Fed's Ben Bernanke and the Bank of England's Mervyn King, central bankers are building up a massive regulatory regime of bank controls, new capital requirements, compensation rules, living wills, and too-big-to-fail structures. If we're already awash in moral hazard, why are they creating more of it?
Read more: http://www.nationalpost.com/opinion/columnists/story.html?id=541cf6de-d36c-4df6-a223-51edc8e39bc8#ixzz0V5zF2jSh
The New Financial Post Stock Market Challenge starts in October. You could WIN your share of $60,000 in prizing. Register NOW
THE PETER SCHIFF BLOG : An Unofficial Tracking of Peter Schiff and The Libertarian Austrian School of Economics
PETER SCHIFF
Tuesday, October 27, 2009
Central banks a hazard to banks
Subscribe to:
Post Comments (Atom)
Popular Posts This Month
-
The Dollar will collapse the Credit cards bubble is about to burst , buy Gold Buy Silver save your assets ...The dollar will drop like a sto...
-
A very strong debate yesterday on MSNBC between Peter Schiff and the host on the Ed show on two major topics the healthcare reform and the s...
-
Here are some of Peter Schiff's Quotes , Please feel free to post more , and I'll make sure to add them to this list ...let's ma...
-
government created jobs like the census jobs are counterproductive and unproductive jobs ... Peter Schiff is considering to run for Senate !...
-
by Peter Schiff Strike up the band, boys, happy days are here again! Recently released short-term economic dat...
-
as you may have noticed it this morning many blogs hosted on blogger including mine were reporting this strange Error bX-r1ezpk ... fortuna...
-
By Peter Schiff I've made a living out of exposing economic fallacies, but there's one whale that I can't seem to harpoon. Eve...
-
Peter Schiff : We need to have a Massive Recession and Peter Schiff: Why College Tuition Is So Expensive Lessons from the Crisis: The Limits...
No comments:
Post a Comment