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pa28

(6,145 posts)

11. The Bank of England just re-instituted Glass-Steagall type measure for SOME reason.

Reply to FlatBaroque (Reply #6)

Sat Nov 14, 2015, 05:59 PM

Nov 2015

http://www.bankofengland.co.uk/pra/Pages/supervision/structuralreform/default.aspx

The changes are intended to ensure that ring-fenced bodies (RFBs) are protected from shocks that originate in the rest of their banking group or the financial system in order to minimise disruption to the continuity of the provision of core services.

I keep hearing that instituting similar rules in the US will cause the financial industry to flee to greener pastures. Politicians who represent Wall Street are running out of excuses.

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23 replies

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Highlight:

Former Citi CEO admits: Big bank model doesn't work. Repeal of Glass-Steagall was wrong. [View all] pa28 Nov 2015 OP

Yes - Validates HRC Is Wrong For America - Bernie Is Right For America cantbeserious Nov 2015 #1

YES YES YES SoLeftIAmRight Nov 2015 #12

I will make sure this is discussed SmittynMo Nov 2015 #14

Well this won't sit well with Third Wayers. Rex Nov 2015 #2

This reads very good I think, correct me it I am wrong as as I am trying for a drug induced stupor. LiberalArkie Nov 2015 #3

Because they always frame the debate in this country. mmonk Nov 2015 #4

+100000000 jwirr Nov 2015 #5

He is WRONG. Hillary told me the problem was "shadow banking" FlatBaroque Nov 2015 #6

For God's sake! Somebody tell him to cut it out! Ed Suspicious Nov 2015 #9

The Bank of England just re-instituted Glass-Steagall type measure for SOME reason. pa28 Nov 2015 #11

president Hillary isn't that much different from president Bush Doctor_J Nov 2015 #7

Complicates wealth management Octafish Nov 2015 #8

Great Catch 1norcal Nov 2015 #10

That makes two Citigroup CEOs to admit repealing Glass Steagall was wrong think Nov 2015 #13

Is it just me, or is something fishy going on here? They must have another special deal, erronis Nov 2015 #16

It's fishy. Enthusiast Nov 2015 #21

I don't think it's anything fishy. People get candid when they move out of the system. pa28 Nov 2015 #23

Cut it out! SoapBox Nov 2015 #15

Sensible Democrats agree. Politely telling banks to cut it out will send a strong message! pa28 Nov 2015 #19

The problem is edhopper Nov 2015 #17

Most of the people disagreeing have an agenda or never saw what was happening Hydra Nov 2015 #22

Bernie was right on many things that Hillary was wrong... AZ Progressive Nov 2015 #18

Kicked and recommended! Enthusiast Nov 2015 #20