by
Mervyn King
[...] For a society to base its financial system on alchemy is a poor advertisement for its rationality. The key to ending the alchemy is to ensure that the risks involved in money and banking are correctly identified and borne by those who enjoy the benefits from our financial system.
I think when I first read this I thought it was great and super radical, but now it just feels meaningless ... how could anyone possibly "correctly" bear the risks? you just have to reduce the possibility of gaining benefits