Banking reforms! No more casino banks....

[DimPrawn]

....well, soon. When I say soon, I mean, we'll start reforms soon. We'll start in 2019. Okay?

BBC News - Acclaim for banking shake-up plan

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

The Independent Commission on Banking, led by Sir John Vickers, said it would "make it easier and less costly to resolve banks that get into trouble".

The ICB called for the changes to be implemented by the start of 2019.



I'm sure the global economy will be rosy in the meantime...right, £1 trillion on red or black?

[AtW]

right, £1 trillion on red or black?

Red I reckon...

[doodab]

Red I reckon...

It was betting on red that got us into this mess.

[TimberWolf]

Red or black the house always wins. And if not, the heavies on the door will rob you on the way out.

[d000hg]

It doesn't mean nothing happens in the meantime. If the gov are serious, banks will need a lot of time to do this and some may do so early to get kudos and public support.

[DimPrawn]

It doesn't mean nothing happens in the meantime. If the gov are serious, banks will need a lot of time to do this and some may do so early to get kudos and public support.

What colour is the sky in your world?

[Spacecadet]

It doesn't mean nothing happens in the meantime. If the gov are serious, banks will need a lot of time to find the right lawyers and make sure the courts, the court of appeal, the supreme court and the house of lords can all be bought off

FTFY

[DimPrawn]

ICB bank reforms: Sir John Vickers' measures could end free banking - Telegraph


We have a choice people.

Either we pay £1 a week for our bank accounts, or when the casino banks go tits up, we all fork out another £20K in taxes to bail them out again.

That's the way I see it.

[Scrag Meister]

Wasn't the separation of Retail and Investment banks what Glass-Steegal act did in 1934, until it was repealled by Bill Clinton and the world went to tulip?!!!!! What goes around comes around.

Glass-Steegal

[AtW]

Wasn't the separation of Retail and Investment banks what Glass-Steegal act did in 1934

Quiet.

It failed spectacularly because it did not address more fundamental separation: bankers from banks.