I have yet to read any of Prof. Farrell's books, but I have followed what he has to say for a few years, and I like his ability to pull together sometimes seemingly-unconnected data, to try to see where we're headed. Here he works out that depositors in a bank are actually a liability for the bank: we cost them money! Why encourage deposits when you can cream profits off the top on derivatives and from the shadow banking system?
http://www.youtube.com/watch?v=7Bo3hxBgjEg
Tuesday, October 22, 2013
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