#1 By: Cory Doctorow, December 27th, 2013 18:00
#2 By: Jardine, December 27th, 2013 18:10
China's former chief economist has excoriated the nation's banking system, which charges high fees and maintains a greedy-large gap between its deposit interest and lending interest rates.
That sounds like Canada's banking system.
#3 By: Stephen Schenck, December 27th, 2013 18:11
maintains a greedy-large gap between its deposit interest and lending interest rates
You sure this is just about China?
#4 By: fuzzyfuzzyfungus, December 27th, 2013 18:15
I would be happy to supply them with capitalist running dogs, a breed noted for its efficiency and entrepreneurial tendencies..
#5 By: Raybert, December 27th, 2013 18:19
That sounds like EVERY banking system ever.
But I must say, replacing bank chiefs with small dogs would be an improvement in many ways.
#6 By: Jonathan Roberts, December 27th, 2013 18:22
Such a business provides no value, and is merely parasitic on the people: "With this kind of operational model, banks will continue making money even if all the bank presidents go home to sleep and you replaced them by putting a small dog in their seats."
Yeah, not sure that's going to help:
#7 By: Fascinoma, December 27th, 2013 18:24
To be fair, he's both. You'd have to send him home to sleep, which means you can't replace him with himself.
#8 By: William_Holz, December 27th, 2013 19:13
OOH! Can we replace all three branches of government with random fifth graders while we're at it?
It can't help but be a massive improvement!
#9 By: Rob, December 27th, 2013 19:14
Sounds like the inevitable result of letting for-profit entities practice fractional reserve banking. It just might be a more novel situation over there than it is here.
#10 By: Ibrahim, December 27th, 2013 19:21
This is why I laugh when people say "Communist China" with a straight face.
#11 By: lavardera, December 27th, 2013 19:39
so their government officials are not scared of their bank executives the way they are here?
#12 By: Ant Dude, December 27th, 2013 19:43
Which banks do not have this problem?
#13 By: Ronald Pottol, December 27th, 2013 22:03
Kinda longing for the traditional 3-4-6 banking plan. Pay 3% on deposits, get 6% on loans, and on the golf course by 4pm. Looking better and better.
#14 By: Elyse Ribbons 柳素英, December 28th, 2013 01:12
China as Discworld, eerily appropriate.
#15 By: Raybert, December 28th, 2013 06:33
Here I am with a DNRC necktie on my tie rack and I failed to see this...
#16 By: cservant, December 28th, 2013 16:00
I always thought it was 3-6-3 rule. 3% to savers, 6% for loans, out the door by 3 o'clock for golf.
#17 By: Cory Doctorow, January 1st, 2014 18:00
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