APP - Bank of England tells banks to reform or else

tom prendergast said:
It needed to be said and Mervyn King has said it, but have the politicians the balls to force bank reform through?

http://www.telegraph.co.uk/finance/...-created-biggest-moral-hazard-in-history.html
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Tom, are UK banks chartered in the same way that they are in Canada? The activities are strictly regulated, and those having activities outside the purview of a "bank" are usually trust companies that handle wills, estates and personal investment and trust accounts in addition to mortgages, etc. (I worked at one of those several years ago). The types of investments of bank assets permitted is strictly defined and regulated, as are the conditions for lending, etc.
 
Thorn said:
Tom, are UK banks chartered in the same way that they are in Canada? The activities are strictly regulated, and those having activities outside the purview of a "bank" are usually trust companies that handle wills, estates and personal investment and trust accounts in addition to mortgages, etc. (I worked at one of those several years ago). The types of investments of bank assets permitted is strictly defined and regulated, as are the conditions for lending, etc.
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The only chartered bank I know is Standard Chartered which mostly operates internationally, the main UK clearing banks all had investment subsidiaries. This is why they took such a hit when the credit crunch happened, the talk here is for a UK version of the Glass-Steagall act to prevent another meltdown. There also needs to be something drastic done to curb the obscene bonuses paid to dealer room staff.
 
meme said:
don't worry, you'll be in there somewhere...once they are done with a useful tool it's off with them too...nice knowing you..
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Obama forever! May My Leader live ten thousand years! Yes we can! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN!

All bow to The Leader! The greatest Leader in history, our illustrious and grand president for life! YES WE CAN! YES WE CAN!
 
Watermark said:
Obama forever! May My Leader live ten thousand years! Yes we can! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN! YES WE CAN!

All bow to The Leader! The greatest Leader in history, our illustrious and grand president for life! YES WE CAN! YES WE CAN!
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like I said, USEFUL TOOL..
 
I don't even see how Watermark would be useful. He'd just be off for kicks...

That said, it that appears those dealer room... well... deals, just crop up everytime and spoil everything!
 
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