have become louder, more authoritative and part of mainstream debate. Pressure for the introduction – or reintroduction – of this crucial split could soon become irresistible, however much the politicians wiggle and the investment bankers deceive.Liam Halligan goes on to say - Until now, it’s been mainly nerds like me who have advocated a full Glass-Steagall separation. Given the vested interests that would lose from this change, we’ve been lampooned for our “hot-headed” views.
Ever since the sub-prime crisis began in the spring of 2007, most British political leaders and regulators have resisted serious banking reform.
Sir John Vickers’ measures, years in the making, have now been exposed for what they are – an elegant political compromise, with not a chance of reining in London’s rapacious investment banking culture, so all but guaranteeing another crisis a few years down the line.
While hopelessly weak in and of themselves, even Vickers’ proposals, imposing a “firewall” between investment and commercial banking, rather than a full institutional split, have been watered down by the Government. Legislation implementing Vickers has yet to be passed and, anyway, won’t come fully into effect until 2019.
As one of those nerds all I can say is BRAVO and ALL hail to Liam Halligan -
for this excellent piece of logical & rational common-sense.
…
Leonardo Da Vinci
Love has no boundaries or issues of
time, it has no ‘beginning’,
it has no ‘end’,
and love exists, waiting for us to
discover its essence, our essence;
to choose to be on its path.
Bravo !
…
ins ALL THINGS and EVERYTHING.
I know that when I tried to involve Apple Computer, with a project to
establish a Multimedia Resource Centre in the Art and Design
faculty of Wolverhampton Polytechnic many of the people I was
involved with at the time, spoke highly of Ringling's achievements.
I very much look forward to having the opportunity of bringing my
experience to the collaborative initiative which Gregory Shepard
and the rest of the T.E.A.M. have suggested I join. A T.E.A.M. as in
Together Everyone Achieves More - a team that I would be honoured
to join and participate with.
BRAVO & ALL HAIL to Ringling and their Collaboratory Initiative.
…