Wednesday 26 July 2017

Banks should have had to battle it out

In retrospect, it is now more apparent than ever the Government should never have intervened by providing a blanket bank guarantee in 2008.

If treated as any other trading company and allowed battle the storm, the best would have survived with plenty of outside financial sharks eager and ready to take up any slack.

If the Central Bank was doing its job effectively it would have been well aware of the impending danger and acted as a guiding star in averting the crisis.

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