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Legal blogger Scott Lemieux on Lawyers, Guns and Money also weighed in, on this point about Wolf's view of how US government works: "In this case, there seems to be an implicit states' "rights" assumption at work – authoritarian actions could not be the result of our benevolent local overlords but must be the work of the big bad feds".
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And deposits enjoy an implicit state guarantee.
All the banks benefited from an implicit state guarantee.
Banks benefit from an implicit state guarantee that lowers their cost of borrowing.
As well as an implicit state guarantee, which allows them to fund themselves cheaply, they enjoy exemption from some taxes.
If banks earn huge profits, and their traders huge bonuses, only because of an implicit state subsidy, that seems a legitimate matter of public concern.
It is not sensible to allow large banks to combine high street retail banking with risky investment banking or funding strategies, and then provide an implicit state guarantee against failure".
The optimisation problem resulting from the first order reliability method is considered with an implicit state function that can include a call to a finite element analysis (FEA).
Economic advisers to the German government warned that the creation of a large bank could exacerbate an "implicit state guarantee" that Berlin would step in to ensure its survival if it were to run into trouble.
Some banks have managed to issue debt without public guarantees, but the system needs to refinance $26 trillion of wholesale funding by 2011; without an implicit state backstop this would surely be impossible.
That is why they hope that Britain's monopolies commission will ignore the anti-competitive aspect of state ownership that is, an implicit state guarantee on loans as well as takeover protection and remember the complaint of a former Socialist prime minister, Mr Pierre Mauroy.
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