In defence of bankers
My previous column at The Daily Maverick, Break the banking cartel, argued that the banks are unlikely ever to solve the problem of a generalised, cash-like, electronic transaction infrastructure that addresses the entire market, both rich and poor, local and foreign, buyer and seller, banked and unbanked.
Lest that argument be interpreted as a denunciation of bankers in general, I thought I’d question why everyone believes politicians when the latter blame the economic crisis on the former. Bankers are a product of their legal and regulatory environment. Hence, In defence of bankers.
