Limited Purpose Banking - Laurence Kotlikoff
Вставка
- Опубліковано 12 січ 2014
- Source - serious-science.org/videos/244
Economist Laurence Kotlikoff on banking system, mutual fund holding companies, and the way they prevent financial crises - Наука та технологія
Gee...I had a class with prof kotlikoff back in the year 2000... I remember it as clear as yesterday when he made an example tearing off a student's 1$ bill (later he replaced that student's 1$ with 5$ bill).. I think for most people including me at that time tearing off a dollar bill is like the cardinal sin... me and fellow students kinda gasped at the situation. At that time i was too uninitiated with how the economy really works and saw him as a show off. Years later I realized he was actually passing on an idea about the economy. I mean our economic studies kinda stopped at the 100% concensus that capitalism is best. What he did (tearing that 1$ bill) really kicked off an initiation in me. I mean contrary to his peers in BU at that time I always wondered why is he passing on ideas that is not adhering to the textbook. The textbook we got had a section that kind of says alan greenspan is the hero of the economy and paul vockler was the guy who ruined everything. Not exact words but gee... way to get opiniated in a college textbook. If social media exist back then it might go viral. But hey ... looking back I'm glad I got into his class. Everyone in boston at the time always talked about how much a sage alan greenspan was Until 2008 came and yea... I doubt anybody sees alan greenspan in that sagey regard anymore. The japanese had a kaizen (always improving) mentality. Our economic system too needs its kaizen. Thanks for the initiation prof. and wow he looked sharper in 14 then he was in early 00 ^^
Not really. Banks don't perform intermediation. Instead they deal with a single party creating the loan and the deposit simultaneously for that single party. There is no 2nd party to intermediate with. That is, an investor is not required in order for a bank to provide a deposit to a borrower.
You're splitting hairs.