Remember, they told us that short term lending between banks, and from banks to companies, was crucial to keep the world in motion. That was the entire point when they sold this to us.

They haven't succeeded. Nevertheless, they say it is fine to switch to a different approach, "freeing up" retail credit.

You can be sure they won't just let us use our own money to pay down credit, making us and our creditors safer.

I can't help but wonder whether the first (and second) approach(es) was really intended to cut the risk of banks defaulting on their direct or indirect (insuring) obligations to the wealthy (including institutional investors on behalf of the not-so-wealthy.)