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The hope is that private banks run for the benefit of shareholders will lend more productively and more prudently than the big four have managed to date.
Germany has not just looked after its public finances more prudently than others; its export-driven model has forced its companies to hold down costs, making them competitive not only in Europe but also globally.
President Obama is going to need Orman to do what his Treasury Secretary probably cannot: get 200M+ American consumers not just to clean up their debt, but return to spending and investing (albeit more prudently than before).
In his first newspaper interview outside of Delaware since the election, Vice President-elect Biden reiterated to the New York Times statements he made during the campaign as to how he will implement the VP office more prudently than his predecessor Dick Cheney, who he has described as "the most dangerous Vice President probably in American history".
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In practice this can be painfully slow, because the best chains tend to expand prudently rather than rush to create empires.
In financial regulation, for instance, this might mean making sure bankers have incentives to act prudently rather than smothering them with examiners to make sure they behave.Beyond matching role to capacity, the Bank believes that governments need to make more of an effort to improve their own capability.
"The country has been more prudent than elsewhere and the economy more prudently managed than other countries in the region," says Rendell.
The scheme is bad news for anyone who prudently saved more than a 5% deposit.
Getting banks to hold more capital and lend more prudently during booms than during busts is like coaxing a cat to put liver in the fridge.
Francesco Schettino might have wanted to pass closer than prudently possible to the island of Giglio, off the Tuscan coast, to show off the megaship, one of the largest in the Costa fleet.
Thanks to the advent of well-managed sovereign-wealth funds, many have looked after their financial assets far more prudently over this cycle than during previous bonanzas.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com