Monday, August 26, 2013

The Bank That Trust Built

by John Horvat II

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The Bank That Trust Built
In writing about economy, I have frequently denounced what I call frenetic intemperance. Frenetic intemperance is a term to describe a restless and reckless spirit inside certain sectors of modern economy that foments a drive to throw off legitimate restraints and gratify all desires. Such a reckless spirit is often found in the financial sector of modern economies as it engages in all sorts of monetary wheeling and dealing.

I admit that banks have their purpose in society by securing money and facilitating transactions needed to carry out business. However, so strong is the frantic idea of modern banking that I have often asked myself if I could provide concrete examples of banking without frenetic intemperance. It is not an easy task.

But in the business section of The Sunday Times of Ireland (7-21-13),[1] I quite unexpectedly found a refreshing example. It involves a London bank called C. Hoare & Co. It is not your ordinary bank.

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http://www.returntoorder.org/2013/08/bank-trust-built/

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