tag:blogger.com,1999:blog-11110174.post138019714537112889..comments2024-02-26T23:17:11.132+13:00Comments on Blessed Economist: Demand Deposit (5) - Modern BankingRon McKhttp://www.blogger.com/profile/03989126812730583009noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-11110174.post-10533553586093966602007-08-23T20:12:00.000+12:002007-08-23T20:12:00.000+12:00TedInsurance does not change morality. I have con...Ted<BR/>Insurance does not change morality. I have contents insurance that covers me for theft, but that does not make theft of things from house morally right. The strange things is that some burglars now justify themselves by saying that its okay to steal from richer people, because they have replacement insurance, so they will end up with new appliances than the ones stolen. Maybe they learnt this twisted logic from the bankers.<BR/><BR/>The other problem is that that banks do not just record your money as their asset. They also feel free to lend it to someone else. So they cannot say they are safeguarding it.Ron McKhttps://www.blogger.com/profile/03989126812730583009noreply@blogger.comtag:blogger.com,1999:blog-11110174.post-35638029474838827432007-08-23T12:41:00.000+12:002007-08-23T12:41:00.000+12:00You're so right, K. Thomas. Sadly.You're so right, K. Thomas. Sadly.Ted M. Gossardhttps://www.blogger.com/profile/10580691315315271791noreply@blogger.comtag:blogger.com,1999:blog-11110174.post-89468138615102864142007-08-23T05:47:00.000+12:002007-08-23T05:47:00.000+12:00Well this is just another of the inconsistancies i...Well this is just another of the inconsistancies in America. It is the same with homeownership. You mortage a house and call yourself a home owner.. but the bank owns it in reality, until they get their money.<BR/><A HREF="http://seafaring-issues.info" REL="nofollow">K.Thomas</A>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11110174.post-8238241055387093082007-08-22T21:40:00.000+12:002007-08-22T21:40:00.000+12:00Ron, Do they do that, or better put, do they ratio...Ron, Do they do that, or better put, do they rationalize (perhaps) doing that, because they are doing a service in keeping and safeguarding our money (with FDIC, here, protection up to a limit)?Ted M. Gossardhttps://www.blogger.com/profile/10580691315315271791noreply@blogger.com