Tuesday, August 30, 2011
Vince Cable favours a Glass-Steagal type reform NOW
Chancellor George Osborne could be set for a Cabinet collision course with colleague Vince Cable over banking reforms which are designed to protect savers.
Mr Cable wants immediate regulations to force banks to ring-fence their high-street banking and keep riskier investments separate from ordinary customers. And even silly Clegg is obliged to agree with this !
Even the pink FT says "Mr Cridland protests too much. While it is true that a run of poor economic news has exposed the continuing frailty of the banking system, this is not an argument for leaving things as they are."
IMO: And a Tobin tax as well, please.
Mr Cable wants immediate regulations to force banks to ring-fence their high-street banking and keep riskier investments separate from ordinary customers. And even silly Clegg is obliged to agree with this !
Even the pink FT says "Mr Cridland protests too much. While it is true that a run of poor economic news has exposed the continuing frailty of the banking system, this is not an argument for leaving things as they are."
IMO: And a Tobin tax as well, please.
# posted by uv : 6:22 PM
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