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Governor warns bank split needed
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=3538		 Page 1 of 1
Author:  pcernie [ Tue Oct 20, 2009 11:25 pm ]
Post subject:  Governor warns bank split needed
http://news.bbc.co.uk/1/hi/business/8317200.stm

I think Mervyn can see what way the wind's blowing and has decided to realign himself - he's also talking quite a bit of sense IMO ;)
Author:  Amnesia10 [ Wed Oct 21, 2009 12:50 pm ]
Post subject:  Re: Governor warns bank split needed
Yes the banks do need to be broken up. There is no point in rescuing the banks if they do not lend. If they had not lost so much money in derivatives and buying junk securities then they would probably be in a much better position now. You only have to look at some of the continental and middle eastern banks to see how strong they are.
Author:  pcernie [ Wed Oct 21, 2009 9:22 pm ]
Post subject:  Re: Governor warns bank split needed
Brown Dismisses Calls To Break Up Banks

http://news.sky.com/skynews/Home/Busine ... 0273?f=rss

Quote:
But the Prime Minister told MPs that "the difference between having a retail and an investment bank is not the cause" of the sector's problems.

"He has got to remember that Northern Rock was effectively a retail bank and it collapsed. Lehman Brothers was effectively an investment bank without a retail bank and it collapsed," he said.

"So the difference between having a retail and an investment bank is not the cause of the problem.

"The cause of the problem is that banks have been insufficiently regulated at a global level and we have got to set the standards for that for the future."


Way to completely ignore what he was getting at Gordon :roll:
Author:  Amnesia10 [ Wed Oct 21, 2009 9:59 pm ]
Post subject:  Re: Governor warns bank split needed
They were not properly regulated at the local level either. :oops:
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