Britian Goes All Glass-Steagall On Its Banks

"There has been widespread support for a government-backed commission that has recommended UK banks ring-fence retail from investment banking.

The report recommends that ring-fenced banks should be the only operations granted permission by the UK regulator to provide "mandated services", which include taking deposits from and making loans to individuals and small businesses.

The report recommends that ring-fenced banks should be the only operations granted permission by the UK regulator to provide "mandated services", which include taking deposits from and making loans to individuals and small businesses.

It says that the different arms of banks should be separate legal entities with independent boards..."

Comments

[mulberry bags]

Thanks, I'm going to have nightmares tonight.