separating banks' retail operations from their investment arms
The Independent Commission on Banking is expected to recommend separating banks' retail operations from their investment arms when it reports on 12 September. Bankers are using all their influence, scare tactics and threats to kill this, proposing setting up Chinese Walls over a long period of time instead. Those walls can be conveniently fragile, as people in the industry have observed. Vince Cable is fighting for the separation.
http://www.guardian.co.uk/politics/2011/aug/31/vince-cable-bankers-reforms
http://www.independent.co.uk/news/uk/politics/osborne-and-cable-at-war-over-bank-reform-2346591.html
Sergio Repka
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Kevin
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We must not let Cameron and his gang think the electorate's anger about this had abated. We need to counter the intense lobbying the banks are currently engaged in so the govt is left in no doubt that they need to do something effective.
