Friday, June 17, 2011

Retail ringfence is not good enough, George

George Osborne sounded the death knell for enforced full bank separation this week at the Mansion House dinner, when he gave full – and premature – backing to the ICB’s interim recommendation for retail ringfencing.

It was bad news for taxpayers and the economy, but all is not lost. There are three steps the ICB can still take.