Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats
4 comments

No Honor System for Banks: Why the Blind Trust in a Free-Trade Honor System?

Quicklink submitted by Hugh Campbell     Permalink
Related Topic(s): ; ; ; ; ; ; ; , Add Tags

View Ratings | Rate It

Headlined to H3 10/25/13


At www.cnbc.com


28314544-fingers_crossed.240x160
(image by CNBC)

This article highlights that honor systems don't work, at least with banks and the general public tends to ignore complicated things. With global trade, these points apply in spades. With its little proactive enforcement and where the WTO's (the fox guarding the hen house) goal is unbridled growth, lacking any interest in the quality of trade. The article goes on to emphasize the importance of context (community) and culture (trust vs. suspicion) to an honor system. If as pointed out 'the universal banks have created a context and culture that is closer to the used car lot than it is to the fruit stand. What higher bar is there in the global trade arena? An arena that fosters virtually no sense of community and is fertile ground for suspicion to trump trust. That said, why does America's bipartisan political elite have such blind trust in the honor system they call free-trade?

Read the rest of the story HERE:

At www.cnbc.com


 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
2 people are discussing this page, with 4 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

In most developed counties, banking is a highly re... by Hugh Campbell on Friday, Oct 25, 2013 at 8:51:20 AM
[W]hy does America's bipartisan political elite ha... by PCM on Friday, Oct 25, 2013 at 3:45:49 PM
Thank you for your comment and pointing out my typ... by Hugh Campbell on Friday, Oct 25, 2013 at 7:14:51 PM
You're welcome, and thanks back. I suspect a major... by PCM on Friday, Oct 25, 2013 at 8:38:21 PM