Comments for Don't mess with other people's money at http://www.adamsmith.org , comment 1 to 3 out of 3 comments http://www.adamsmith.org Thu, 08 Jan 2009 15:15:58 +0100 FeedCreator 1.7.3 http://www.adamsmith.org/blog/government/don%27t-mess-with-other-people%27s-money-200810072239/#comment-1305 "Before dismantling a fence, be very sure to find out why it was put there." Cordially, Tony Hollick - Tony Hollick Wed, 08 Oct 2008 15:56:50 +0100 http://www.adamsmith.org/blog/government/don%27t-mess-with-other-people%27s-money-200810072239/#comment-1304 There's plenty of blame to go around. However, we can be quite sure of two facts: [1] The Co-Operative Bank in Britain, mutually-owned by its members and customers (like myself) are NOT the cause or part of the problem. Neither are the Building Societies that escaped the carpet-baggers. [2] The Mondragon Bank of the Mondragon Co-Operatives in Spain are NOT part of the problem. Incidentally, the CoOperatives themselves show TWICE the audited return on capital employed.(8% p.a.) of investor-owned Spanish businesses. Just imagine the cumulative effect of twice the return on capital on annual economic growth rates. Mondragon Co-ops are market compatible; they're better to work in; they have a better record of innovation. Their workers own the businesses they work in. They choose the management. They reap the rewards. http://www.mcc.es I think we can be very sure that Adam Smith would have approved. He had no time for Crony-Capitalism. Cordially, Tony Hollick PS: I've seen estimates of the "toxic overhang" as high as $42 trillion, with about $13 trillion in base assets. I'd like to see a good range of estimates --TH - Tony Hollick Wed, 08 Oct 2008 15:53:57 +0100 http://www.adamsmith.org/blog/government/don%27t-mess-with-other-people%27s-money-200810072239/#comment-1291 Sounds very similar to insisting 50% of the population should go to university!!!!!!!!!!! - dave Tue, 07 Oct 2008 10:05:57 +0100