Posts Tagged Banks

Banking Reform

Earlier this week the Independent Commission on Banking Reform released its final report. In it are reforms that the bankers are claiming would cost the industry over £7billion a year. Interestingly, most of the recommendations wouldn’t be implemented until 2019. Why so long is beyond baffling considering the sector is an octopus and continues to have the potential to bring the economy to its knees. Delaying the reform is also particularly worrying when you consider that they are unable to put in place policies and procedures to stop reckless activity. Case in point, we hear today of another rouge trader: […]

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Robert Cole’s article in the 17th February edition of the London Times has a great list and of the most common phrases to have cropped up over the last year related to the economy/financial crisis. More importantly, he offers definitions so one can speak intelligently while blaming the banks — and oh yeah, those terrible bankers for today’s current global crisis. Bad bank A financial institution, or part of one, that looks after a bucket of debts that may turn sour. Strictly speaking it is the loans, not the bank, that is bad. Good banks, and especially talented bankers, are […]

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