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.

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