By Irving Fisher
Article by way of Irving Fisher (1936), Professor Emeritus of Economics, Yale college, urges Congress to take again the Constitutional cash energy, redeem the nationwide debt, require banks' call for deposit to be a hundred% liquid, to averting an inelastic personal loan constitution that bursts, leaving frozen loans in the back of, and stay away from 'Global monetary Crises." brief biography by means of Michael Schemmann.1867
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First, the binding and controlling power of the distributed management framework is too weak (Caijing 5 May 2002). Nowadays most major banks in the world have adopted the matrix administrative framework (Jiao 2001). Namely, the business divisions of the headquarters are responsible for assessing the relevant business staﬀ in the branches and controlling the business operations with an eﬀective motivation and binding mechanism. However, the major state banks in China have taken the opposite approach and released the power from the higher levels to lower ones.
Nevertheless, the NPL ratio in China’s state banks is still disappointingly high. For the Agricultural Bank of China, the recent ratio is 25 per cent (Caijing 17 October 2005); for some branches of state banks in Northeast China, the ratio even reaches 36 per cent (China Business Post 12 March 2005). The general NPL ratio of the four state banks in 2005 is still above 10 per cent (CBRC website). Even this number is an understatement. 0 >8 >8 >20 >25 >40 >25 >25 9 13 28 24 25 34 40 Source: Hu Zuliu 1998: 4.
T]here will no longer be clear dividing lines between raising money for corporations through commercial paper or through share issues, through long-term or through short-term instruments, depending on regulation and requirement. Instead, debt will become interchangeable, an endless stream ﬂowing one currency to another and from one type of paper to another without diﬃculty. (Hamilton 1986: 17) On the other hand, the IT input of China’s state banks is quite small, compared with foreign giants. 24 billion.
100% Money and the Public Debt by Irving Fisher