Martin Wolf on why banks fail and what to do about it
Behind the Money
00:00
Banks Are Not for Profits
There have been banking crises and bank runs throughout the history of banking. Martin believes that in fact, banks should be considered more like an electric or a water company than a for-profit business. He says if they are to be seen as utilities, they don't need to be vastly profitable. They need to be run as utilities and be capitalized in ways that ensure that they will survive in tough times.
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