Roger Bootle on banking: “they’re not competitive markets”

Roger Bootle sat down with the Telegraph and ran through a few themesregarding the stock market, the financial crisis, government debt, currencies and compensation in the financial sector.  He has a lot to say, in particular on banks, which he argues do not operate in competitive markets – one reason they pay so well. He argues there is a cartel of too big to fail institutions which should be broken up.

The video of his comments runs just over five minutes. Catch his book “The Trouble with Markets” at Amazon. A link to the article accompanying the video is below.

Does banking contribute to the good of society? – Telegraph