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If a private bank can spend money on productive people and assets in this way then there is no reason at all why a public bank should not do the same as an agent for the Treasury.

Except that public entities have cooties.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Migeru (migeru at eurotrib dot com) on Wed Oct 13th, 2010 at 08:20:20 PM EST
[ Parent ]
and the private ones don't... oh wait.

seems like the game will be:

let's all inflate, as gently and imperceptibly as we can, together, and maybe it won't hurt too bad. we'll be together, right?

big of them, to include us in the big society, when they have incurred titanic losses. sharing is good, folks.

they can't look the future they are creating in the eye, so it's 'how can we spin this harder till it's black as snow?'

the debt cantilever is tilting the building, do not adjust your sets...

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Thu Oct 14th, 2010 at 03:54:10 AM EST
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