“something has gone wrong with the very heart of capitalism”
The Problem Faced with financial catastrophe, we used taxpayers' money to tamper with Capitalism. We averted disaster but by doing this we prevented a Phoenix rising from the ashes - the evolution of a strong, modern, competitive, streamlined, investor and consumer-friendly banking system from a devastating Global crash. We saved some huge old dinosaurs which could still fall, taking Global Economies with them and hitting the most vulnerable the hardest.
The Solution and the Opportunity So is the solution to create that Phoenix now? Set up a modern, competitive bank which benefits its investors first? 'Antidote bank' to start curing Lord May’s infected banking system, as talked about by Charles Arthur in the Guardian and others. The beginning of a new, strong, modern banking system? The opportunity to create a system that generates wealth for all its stakeholders and enables, supports and encourages a share of this to go to the developing world? A system that allows orderly failure as in other markets.
Features and Benefits of Antidote bank * Clear edges for national regulation but effective links for global trade.
* A safe reserve and healthy, competitive links with the rest of its market.
* Pays less to its employees but offers world acclaim, the opportunity to innovate and work with the Leonardo da Vinci’s of our day.
* Use of technology for the benefit of all stakeholders, lots more free banking, store my money unless I say you can invest it, if I do decide to invest - a dhl style tracking system following my money and a share in what it makes ...
* Facebook style accounts with individual opportunity to donate some of your personal charges/ interest to chosen causes?
* No financial support from government or taxpayers – survives and thrives on its merits or falls alone without taking the rest of the market with it.
So who are the Leonardo da Vincis of our day? Entrepreneurs and innovators who could rise to this challenge? Those clever people at Goldman Sachs? Bill Gates? Steve Jobs? Richard Branson? Nelson Mandela? Bob Geldof? Stephen Fry?
So who will invest in and use Antidote Bank?
Everyone will consider it!! For the reasons above.
The Outcome So Antidote bank is up and running and its ‘game on’ capitalism. Engage employees, investors, consumers – and the other banks will follow suit or lose out. A new system takes root. The best type of regulation is free competition.
Does this sound too simple? We need to create and innovate, not just regulate.......