UK prepares new law to break up errant banks

In response to something that happened 5 years ago something might happen next year? No apparent rush then?

The banks initially resisted the change. So what?

The big picture is that the US did it first and we did it to remain competitive. ‘It’ being the combination of investment and retail banking.

I am not convinced that George has a clue. I like his waffle about Directors of failed banks not being allowed to move to other banks. What piffle. Does he know the root cause of the 2007/8 crash yet? Does he know what must be done to allow our young people to have as good a future as we expect them to have. Has he addressed any unfunded obligation that no-one ever mentions? No, course not.

Yes, do this small thing. Or not. Is the US going to do it too? I doubt it. So why would we limit the competitiveness of our own banks? Is this just because of public opinion? I see no Leadership here, none at all.

“Ring-Fence” with electrification is a good idea. But who will operate the main switch? What about cheating the customers through hidden agenda?

well, fancy that, thinly vieled threats from the BBA, usual rubbish about investor confidence, the best talent leaving etc. etc. Surely good quality investors would rather their investments were following the laws of the lands in which they operate, surely this state would be more confidence building than the international frauds being committed at present with the inate posibility that individual banks & their investors could go down the pan and lose everything; as for the “talent”, frankly, until the whole sector is cleaned up international;ly, I would be very suspicious of anyone wanting to jump ship and would open the doors for them to make good their escape [to what, one wonders?].

Splitting the banks would reduce investment bankers’ bonuses and short term incentive schemes. Little wonder they are complaining.

It really is about time that investment bankers returned to the real world.

Amazing, isn’t it: marriage can be redefined after a few months of hasty legislating, but 5 years gets us practically nowhere towards regulating our banking industry.

It makes you wonder who’s running the show down in Westminster.