27 February 2009
If you saw a line of dominoes falling over you wouldn't blame the second one would you? You'd blame the first. So, why, in the current Depression, is everyone blaming the banks?

Or let me put it another way. RBS, BoS, Barclays, Lloyds, they've all been around for a hell of a long time. Hundreds of years. They've always attracted greedy people - heck why else do people become bankers? And yet they've always survived. What's different about this time?

Now, I think the answer is the government's low interest policy but even if it's not it's got to be something big and unusual.

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