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Can Bankers Go Back Into The Casino Again With A Guarantee...
...they can gamble with a guarantee if they lose they won't be penalised in any way?
Banks need to be firmly regulated.
Banks need to be firmly regulated.
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Not sure where this has come from and who decided now to do this, but it is very bad timing.
Our economy is in s state of flux - rampant inflation, recession, record state borrowing. And the Government decide this is a good time to ease regulation. Even if the 30 reforms are reasonable (we don’t know), introducing them during the present turmoil is irresponsible.
Our economy is in s state of flux - rampant inflation, recession, record state borrowing. And the Government decide this is a good time to ease regulation. Even if the 30 reforms are reasonable (we don’t know), introducing them during the present turmoil is irresponsible.
It is only a few weeks since a Tory Government brought UK Pension Funds to the brink of collapse.
// The government has announced what it describes as one of the biggest overhauls of financial regulation for more than three decades.
It says the package of more than 30 reforms will "cut red tape" and "turbocharge growth".
Rules that forced banks to legally separate retail banking from riskier investment operations will be reviewed.
Those were introduced after the 2008 financial crisis when some banks faced collapse.
The package of changes, the "Edinburgh Reforms", is being presented as an example of post-Brexit freedom to tailor regulation specifically to the needs and strengths of the UK economy. //
What could possibly go wrong ?
// The government has announced what it describes as one of the biggest overhauls of financial regulation for more than three decades.
It says the package of more than 30 reforms will "cut red tape" and "turbocharge growth".
Rules that forced banks to legally separate retail banking from riskier investment operations will be reviewed.
Those were introduced after the 2008 financial crisis when some banks faced collapse.
The package of changes, the "Edinburgh Reforms", is being presented as an example of post-Brexit freedom to tailor regulation specifically to the needs and strengths of the UK economy. //
What could possibly go wrong ?
Banks need to be firmly regulated.
but they dont need to be over regulated
This ( no cap, easier to take risks with other peoples moolah) is 'needed' to attract more money into London and we have to accept that the financial markets are impt to us
( unlike car manufacture or micro-chips).
It is an entirely new concept that over-regulation may harm the industry it is regulating - which means as usual "taking back control to Britain" just means following the lead of others....
however the events of 2008 do show that stricter regulation AND the psych reluctance of the regulated to take risks contributed to the slum
but they dont need to be over regulated
This ( no cap, easier to take risks with other peoples moolah) is 'needed' to attract more money into London and we have to accept that the financial markets are impt to us
( unlike car manufacture or micro-chips).
It is an entirely new concept that over-regulation may harm the industry it is regulating - which means as usual "taking back control to Britain" just means following the lead of others....
however the events of 2008 do show that stricter regulation AND the psych reluctance of the regulated to take risks contributed to the slum
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