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Well, this is at, the moment, the way the markets work but this is not a well—functioning market. banks serve all sorts of very important purposes and they face costs, so they they should make a margin. i am not saying that the banks should pass on the full 4% to the savers, but i doubt that keeping a 3% margin is really necessary. people don't really move their money around. they should, but they don't. and this is what lets the banks take advantage of. but, fred, i'mjust thinking here — if the banks already are sitting on a pile of money, they don't need new deposits, there's no competit...

Banks aren't charities. you know, they're in it to make money. isn't this just the way the markets work? well, this is, at the moment, the way the markets work, but this is not a well—functioning market. banks serve all sorts of very important purposes and they face costs. so they should make a margin. i am not saying that the banks should pass on the full 4% to the savers, but i doubt that keeping a 3% margin is really necessary. people don't really move their money around. they should, but they don't. and this is what the banks take advantage of. but, fred, i'mjust thinking here, if the ba...

It's quite a radical suggestion, fred. i'm just wondering, do you think it's this is likely it is desirable i'm just wondering, do you think it's... this is likely? it is desirable now whether whether the central banks will will want to do that? i don't know. but, fred, you know, the critics will say, look, banks aren't charities. you know, they're in it to make money. isn't this just the way the markets work? well, this is at, the moment, the way the markets work, but this is not a well—functioning market. banks serve all sorts of very important purposes and they face costs. so they they sh...

Cost of living in other places. it is quite a bit higher. a family of four requires about $88,000 in order to live. the fact that d.c. would require wal-mart to pay its employees more is perfectly in line with a well-functioning market. >>steve: by the same idea, the people of washington, d.c. would enjoy lower prices, and now wal-mart, kevin, is not going to apparently build those stores there unless the mayor goes ahead and vetoes it, and those jobs aren't going to be there. it just doesn't seem like -- it seems like they're trying to jam this down wal-mart's throat because they are successf...