Investors back Osborne’s bank break-up threat
FIG investors on Monday threw their weight behind UK Chancellor George Osborne’s threat to punish banks that try to undermine the proposed ring-fence between retail and investment banking by forcing them to separate fully the two entities.
Osborne said in a speech on Monday that the government needed the power to separate banks that did not respect the rules, in order to discourage them from gaming the system and endanger financial stability.
My message to the banks is clear: if a
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