Follow WallStreetBlips on Twitter
Blog Reactions
FT Alphaville: King gets Churchillian and declares: ‘Break up the banks’
The Baseline Scenario: The Consensus On Big Banks Begins To Move
FiNTAG - Hedge Fund News, Views, Opinions and Gossip: THE FINTAG NEWSLETTER @ 21 October 2009
Reactions
 |
RT @anthonypainter Oh dear. I agree with Mervyn King about break up of banks. http://bit.ly/WkAXj <--- me too! worrying... 10/21/2009 |
 |
Oh dear. I agree with Mervyn King about break up of banks. http://bit.ly/WkAXj Just like I agreed with Adair Turner on tax... 10/21/2009 |
|
At last sanity: http://bit.ly/WdcU9 & with a larger role for the Bank under the Tories hope! 10/21/2009 |
King gets Churchillian and declares: ‘Break up the banks’
FT Alphaville —
Never in the field of financial endeavour has so much money been owed by so few to so many. And, one might add, so far with little real reform. That’s Bank of England governor Mervyn King, speaking in Edinburgh on Tuesday night. Apparently, we should all stop deluding ourselves that tougher regulation alone might avoid future crises. If something is too big to fail, then it should be reduced in size. What that means is removing the utility aspects of banking from the casino bits. He’s gone cold on the ‘living will’ idea, which he now believes would require too much ...
King urges bank break-ups
FT Alphaville —
Mervyn King, governor of the Bank of England, called on Tuesday for banks to be split into separate utility companies and risky ventures, saying it was “a delusion” to think tougher regulation would prevent future crises. King’s call puts him sharply at odds with the direction of domestic and international banking reform. The Treasury and the FSA watchdog have specifically rejected the idea of breaking up the banks, while the Conservatives oppose unilateral action by Britain along these lines.
The Consensus On Big Banks Begins To Move
The Baseline Scenario —
... Mervyn King also does not mince words. In a major speech last night, he said, “Never in the field of financial endeavour has so much money been owed by so few to so many. And, one might add, so far with little real reform.” ( ...
Big Banks Fail
The Baseline Scenario —
... ) and – late Tuesday – the current governor of the Bank of England (Mervyn King), who are calling for these banks to be broken up in some fashion. ...
THE FINTAG NEWSLETTER @ 21 October 2009
FiNTAG - Hedge Fund News, Views, Opinions and Gossip —
... Fintag says Ship. Rats. Jumping. wall street journal says "Rakoff Gets Galleon Case And Will Bharara Become the Great Preetinder? " Mind you seems ironic that Australia, the world's only booming economy has a Sri Lankan boat problem. Given Galleon owned a lot of the SL stock market, we may see a few more immigrants looking for new homes. KING CALLS FOR BREAK-UP OF BANKS financial times ...
