Saturday, August 7, 2010
Barclays warns on break-up of banks.
The above was the FT main front page headline August 6th. Barclays claim that breaking up banks will force them overseas. Well they would say that, wouldn’t they? By the same token, stamping out drug dealing on one neighbourhood just shifts the problem to other neighbourhoods. The solution is to stamp out undesirable activities in all geographical areas.
Barclays are engaged in an activity referred to by John Hylan, Mayor of New York, 1918-25. In reference to bankers he said “Woe to the public officials who dare resent their dictatorship. If there be such public officials who will not submit to their imperious dictation, then the floodgates of lying press propaganda are released…."
See here and scroll half way down.