As a non banker I’ve recently got interested in the concept of Usury or ‘charging interest’ and how its moved from being plain wrong and immoral ( see early Protestantism and Islam)to being a backbone of monetary policy without which everyone feels who lends money they are somehow losing money if they only get the original loan back. There are Swedish models like JAK https://en.wikipedia.org/wiki/JAK_Members_Bank that had its birth in the 30’s Depression era and uses a kind of LETS system. Like the CoOp it had its own currency and savings system. I wouldn’t mind you getting your head round how these popular banks might replace or outcompete the Big banks. The Bank of Dave tried, faltered but ultimately survived because most people want a secure place to save and exchange invisible money.
Interestly on that Osborne jibe, the Conservatives under Disraeli ( as opposed to the Landed Tories) wanted to protect the working population from the whims of middle class merchants and employers whose raison d’etre was to cream off as much as they could. Sadly and ironically, Osborne now finds himself aligned philosophically with those very merchants who are now running the show.
I mentioned in my last reply that my grandad ended up in the Docks. It turns out his grandad John Dobson was a wealthy banker from Huddersfield whose private banking business went bust after one the 19thC’s many bust cycles. How the mighty are fallen eh, the surviving son made his way to London with very little, got work as a solicitors clerk, got a maid pregnant and the rest is history.