tag:blogger.com,1999:blog-32841798.post1028602121235319314..comments2024-03-29T11:36:35.692+00:00Comments on Capitalists@Work: Government retreats from Banking reformCityUnslickerhttp://www.blogger.com/profile/15929544047783163175noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-32841798.post-17365818575763788862010-05-20T00:41:52.008+01:002010-05-20T00:41:52.008+01:00They've shown some sense.
While both the 5% ...They've shown some sense. <br /><br />While both the 5% pay cut for MPs and the attack on banks were populist vote winners with no benefit to the country, the attack on banks would have been extremely harmful.<br /><br />Banks contribute a great deal to this country, and if the government wants to bash them then they'll just move to a less nasty regime.<br /><br />Splitting retail banking from the rest is nonsense as well. Northern Rock? Completely retail. <br /><br />What happened was not the result of anything other than horrifically bad management and risk taking. Shareholders constantly pressing for more returns now, and directors happily getting a bonus this year, and hoping the bubble doesn't pop and they don't get found out.<br /><br />What doesn't make sense is an attempt to attack the banks as revenge... our banks are a key export trade for the country. The reason why the EU is keen to hammer banks is because we've got a very productive banking sector... and they want it. The Dutch, French, Germans etc etc all laugh up their sleeves when British politicians promise the dim electorate that they'll get revenge on the banks.<br /><br />One good thing seems to have come from the coalition - populist, political, bad for the country silly policies can be removed from the manifestos.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-52284693590056625522010-05-19T10:16:16.259+01:002010-05-19T10:16:16.259+01:00You could easily split out UK retail banking from ...You could easily split out UK retail banking from the rest, which is all anyone in the UK is concerned about.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-32841798.post-19708869598218884612010-05-17T19:08:32.039+01:002010-05-17T19:08:32.039+01:00Perhaps they've agreed that Laws knows money a...Perhaps they've agreed that Laws knows money and Osborne can use that to make it look as if he does.James Highamhttps://www.blogger.com/profile/14525082702330365464noreply@blogger.comtag:blogger.com,1999:blog-32841798.post-87704348311478560452010-05-17T09:28:11.019+01:002010-05-17T09:28:11.019+01:00as noted before, the key is to ensure adequate ris...as noted before, the key is to ensure adequate risk capital is allocated to prop trading (they were getting away with blue murder before '07)<br /><br />let's see how the 'bank levy' pans out - another one for the back-burner ?Nick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.com