Friday, March 2, 2012

Marc Faber : We need a two-tier banking system

Marc Faber : The financial system has become too large in relation to the real economy . When I began to work in the early '70s, the investment bankers were still stuck with their assets. Today the bankers speculate with other people's money - risk free. A German bank, for example, is now a hedge fund with no risk of loss. Why? Because the bank in question is rescued by the state. We need again a two-tier banking system. - in an interview with the German paper Handelsblatt 1st March 2012


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