If this is a cockamamie way to invest, I draw courage from the theory of central banking, which is more cockamamie still.
So the high probability that credit-rating agencies will downgrade UK banks' debt, as and when the government accepts the recommendations of the Banking Commission, should in theory have no impact on the price banks pay to borrow.
If my theory is correct, then once the banking crisis is resolved, confidence will return soon thereafter.
So far, Lewman says, Tor's developers haven't figured out how that probe is able to determine what's an encrypted connection to a Tor server and what's a connection to an encrypted banking or e-commerce site, which in theory should both look to a snooping government like indecipherably scrambled Web traffic.
One important consequence would be that in the next banking crisis, the Bank of England would not - in theory - have to call on the Treasury to put quite so much money into a Royal Bank of Scotland or an HBOS that was facing collapse, because the creditors of those banks would be forced to become shareholders.
According to the Bank of England's analysis, if every single one of those countries went bust and wrote off 50% of their sovereign debt, banking debt and non-bank private-sector debt, that would wipe out around half the capital in the UK banking system - which is another way of saying that, in theory, the majority of our banks would limp on.
That theory is exactly what West Coast Website provider Digital Planet is banking on.
In theory, Japanese banks and securities firms could develop investment-banking expertise.
ECONOMIST: Japanese finance: Rich pickings for the gaijin | The
In theory, the executive committee's task was to run all the group's investment-banking businesses--equities and corporate finance in London, which are Kleinwort's specialities, and bond and foreign-exchange trading, most of which is done by Dresdner in Frankfurt.
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