May 05, 2010

Respectfully, may I express a doubt?

Sir in your “The case for change” May 4 you write that the Financial Times stands for a “liberal agenda: a small state...” May I respectfully doubt it?

No one that stands for a small state can agree that if his deposit in the local bank is loaned out by the bank to a small business the banks needs to hold eight percent in capital, but if his bank lends instead that money to the government it needs to hold no capital at all.

About this I have written you many letters during many years but you keep on ignoring the issue.