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Is Victorian writer Walter Bagehot, whose adage “lending freely against good collateral at a penalty rate” has been gospel for central bankers, still relevant in a post-Great Financial Crisis world?
PatnaDaily A few months ago, we had received a letter from Mr. Donald L. Reid of Ayrshire, Scotland, informing us that there is yet another place on this planet that shares the name of the capital city of Bihar, Patna. Since then, we, at PatnaDaily.Com, had been toying with the idea of sharing this information with our visitors but for one reason or another, the idea remained just that, an idea! This past December, however, things changed as Mr. Reid, a social historian who has written a number of books on the Valley of Doon in Scotland, its rich history and culture, once again exp...