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Bruce Davis
Posted on October 21st, 2009 at 6:15 am
Check out some of the responses to Stephanie Flander’s preview of Merv King’s speech (where he implied strongly that the current bank model needs radical reform not just more regulation). While zopa is not the only response to the need for non-bank sources of consumer finance, it is a damn good start and proves the hypothesis that people are better at building trust networks in today’s connected world than banks who still rely on institutional bluster (and now public money) to provide a similar level of confidence and trust.
Once politicians work out that there are votes in the idea of taking back ownership and control of ‘our’ money they will come round. : )