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December 19, 2010
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I am all for regulating the banks, but it has to be done at a global level. Bashing banks here might not make them move straight away, but it means they will expand in Singapore or Mumbai instead of in London.
The sooner this communist defects to Labour, the happier he will be, and the happier we will be.
Posted by: whuh | December 19, 2010 at 07:20 PM
Yet again Cable proves he is a danger to the economy of this country, even though he knows very well just how much this country is dependent on the financial sector. If Cameron wants to keep it in this country, he must grasp the nettle and sack Cable forthwith.
Posted by: MartinW | December 19, 2010 at 07:41 PM
The BoE published its estimate than UK banks received subsidies worth over £100bn in 2009 via the rigging of interest rate markets and credit ratings it granted them. Peston blogged some details. It is surely a simple matter to tell banks that those who are perceived to transgress in fair dealing (including but not limited to the award of unmerited bonuses) will see their support from the BoE evaporate. That would be far more effective than any regulation.
Posted by: It doesn't add up... | December 19, 2010 at 09:15 PM
"Vince Cable promises more tough action on bank pay"
What do you mean "more"?
Posted by: Alex | December 19, 2010 at 10:56 PM