A Harry Potter Baking Crisis? Who said fanfic did not relect reality.
I am amazed to see the banking crisis so quickly reflect itself into fanfiction; and Harry Potter fanfiction at that.
“He can bankrupt us all, Miss Granger, Muggle and Magical alike. Consider, if you will, Miss Granger. The Potter fortune, along with the Blacks, the Malfoys, the Longbottoms, and the Lestranges, originally making up the majority of the Wizarding economy of Great Britain. Gringotts would take the collective funds, invest them as capital for loans, home ownership, and the like - typical banking trade. The goblins profit, the shareholders profit, borrowers earn their holdings. Now consider Harry. Through birth, inheritance, and combat he is now the holder of the Malfoy fortune, the Lestrange fortune, the Black fortune, and the Potter fortune. That leaves the Longbottom fortune as collateral for Gringotts. Capital funding vanishes overnight. Properties are impossible to purchase and businesses can’t borrow to continue to grow. Large purchases stop and subsistence and survival becomes the mainstay of our economy, with no new capital to help it out. Then you add in Harry’s social case, which shows the erosion of human rights - his, to be specific - in Britain on the world stage. Government lending vanishes from Britain on the Muggle side as well. Overnight, we lose our power globally, cannot gain funding economically, and we’re socially ostracized on the world stage. Tell me, Miss Granger, what you think happens when a major economy on the world stage takes a sudden downturn?”
http://www.fanfiction.net/s/4836174/2/Harry_Potter_and_the_Missing_Contract
“He can bankrupt us all, Miss Granger, Muggle and Magical alike. Consider, if you will, Miss Granger. The Potter fortune, along with the Blacks, the Malfoys, the Longbottoms, and the Lestranges, originally making up the majority of the Wizarding economy of Great Britain. Gringotts would take the collective funds, invest them as capital for loans, home ownership, and the like - typical banking trade. The goblins profit, the shareholders profit, borrowers earn their holdings. Now consider Harry. Through birth, inheritance, and combat he is now the holder of the Malfoy fortune, the Lestrange fortune, the Black fortune, and the Potter fortune. That leaves the Longbottom fortune as collateral for Gringotts. Capital funding vanishes overnight. Properties are impossible to purchase and businesses can’t borrow to continue to grow. Large purchases stop and subsistence and survival becomes the mainstay of our economy, with no new capital to help it out. Then you add in Harry’s social case, which shows the erosion of human rights - his, to be specific - in Britain on the world stage. Government lending vanishes from Britain on the Muggle side as well. Overnight, we lose our power globally, cannot gain funding economically, and we’re socially ostracized on the world stage. Tell me, Miss Granger, what you think happens when a major economy on the world stage takes a sudden downturn?”
http://www.fanfiction.net/s/4836174/2/Harry_Potter_and_the_Missing_Contract