Fractional reserve banks are sitting ducks and are always subject to contraction. When the banks state of inherent bankruptcy is discovered, for example, people will tend to cash in their deposits, and the contractionary, deflationary pressure could be severe.
By: Murray Rothbard
It is more or less clear that one idea which should emerge from the crash, whatever happens with the attempts to save the banks from bankruptcy and people from being evicted from their homes, is that this kind of life is unsustainable. We cannot go on like this... something must be done.
By: Zygmunt Bauman
The peace we are offered is not a peace that is free from tragedy, illness, bankruptcy, divorce, depression, or heartache. It is peace rooted in the trust that the life Jesus gives us is deeper, wider, stronger, and more enduring than whatever our current circumstances are, because all we see is not all there is and the last word about us and our struggle has not yet been spoken.
By: Rob Bell
We have been in recess since July, and during that time there have been a fuel crisis, a Danish no vote, the collapse of the Euro and a war in the middle east, but what is our business tomorrow? The Insolvency Bill [Lords]. It ought be called the Bankruptcy Bill [Commons], because we play no role.
By: Tony Benn