Quotation of the Day…

by Don Boudreaux on September 3, 2012

in Financial Markets, Regulation, Risk and Safety, Seen and Unseen

… is from page 175 of Mark Pennington’s superb 2011 book,¬†Robust Political Economy:

With detailed regulation of lending now conducted by government bodies (such as the Financial Services Authority in the UK), financial institutions no longer have much reason to compete on grounds of reputation and ethos.

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