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Those of us who have looked to the self-interest of lending institutions to protect shareholders’ equity are in a state of shocked disbelief.

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Disbelief Institution Interest Lend Self Shareholder Shock

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All Always Argue Benefited Country Draw Fact Immensely Over People World
Crony capitalism is essentially a condition in which… public officials are giving favours to people in the private sector in payment of political favours.
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Capitalism Condition Crony Essentially Favour Private Public
Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.
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Against Always Any Believe Fraud Law Need Probably
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Boost Finance Free Income Increase Interest Keep Lower Productive Rate Real Saving
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation.
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Absence Confiscation Good Inflation Protect Saving Standard
We as central bankers need not be concerned if a collapsing financial asset bubble does not threaten to impair the real economy, its production, jobs and price stability.
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Asset Banker Bubble Central Collapse Concern Do Economy Financial Threaten
I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.
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Corruption Exist Extend Favor General Government Sell Something
Senator, if I seem clear to you, you must have misunderstood me’.
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Clear Misunderstood Seem Senator
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Asset Escalate Exuberance Irrational Unduly Value
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Abnormal Exposure Haul Long Matter No Return Scheme Skillful Sustain Trade
Corruption, embezzlement, fraud, these are all characteristics which exist everywhere.
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Characteristics Corruption Embezzlement Everywhere Exist Regrettably
Nor can private counterparties restrict supplies of gold, another commodity whose derivatives are often traded over-the-counter, where central banks stand ready to lease gold in increasing quantities should the price rise.
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Another Commodity Counterparty Derivative Gold Often Private Restrict Supply Trade

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