karl-leffme

19549 Articles by: Karl Leffme

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Karl Leffme is a socialist in New York CIty.

Why Do We Even Need Private Banks?

Since Silicon Valley Bank’s collapse, some commentators have been waking up to the need for a socialization of deposit-taking banking. They’re right — but the same logic leads to a more radical conclusion: a fully socialized capital market, with no private banks.