Apparently, bank shares have risen following criticism from bankers that they might have to face some more regulation. The BBC reports, the chief Executive of the British Bankers' Association, Angela Knight, saying, "This means allowing the banks to finance the recovery first, pay back the taxpayer next, and only then turn to further regulatory change."
Well they would say that. In other news apparently the British Bears' Association has called on the government not to prevent them defecating in woodland areas and the Bishop of Rome has asked to be allowed to carry on attending mass.
My problem with the government proposals is that not that they regulate the banks too much, but too little. Vince Cable needs to get his way so that the investment arms are hived off from the retail side and any bank 'too big to fail' is deemed too big to exist.
Angela Knight is a former Conservative MP.
No comments:
Post a Comment