Political dividend in financial largesse

Money permits patronage. Money means power. No wonder details of the crores locked up in NPAs and never repaid loans are top secret

It could well be the turn of private banks next. Some would call it “organised loot and legalised plunder” but the truth is it takes a deal of money for rulers to rule. Modern ministers therefore yearn as much as medieval monarchs did to get their hands on the cash. If central banks remain disobliging, governments may have to turn to private savings.

No wonder The Wall Street Journal reports that more than 1,700 US banks downed shutters in 12 months while Donald Trump accused the Federal Reserve, which resists his deficit-swelling tax cut stimulus, of going “loco”. It's open season