Category Archives: bank bailouts

Financial drug-pushers

What banks were like when Dalrymple was a boy

Today’s bankers

Some argue that banks

are up to their old tricks again, lending riskily with abandon, selling on their risky debts to those who have not the faintest idea of what they are buying, having learned from the last crash that when push comes to shove, they will be rescued from the consequences of their improvidence. But this time the banks will not be bailed out; we, the account holders, will be bailed in. The bankers are greedy and insouciant.

The doctor-writer observes that in his lifetime, bankers

seem to have changed in nature, or at least in image.

When Dalrymple was a boy in the 1890s,

bankers were rather respectable, dull persons who acted like the financial guilty conscience of their customers.

Consols Transfer Office, Bank of England, 1894