Saturday 3 January 2009

Vince Cable: prevent high street banks playing casino capitalism

Today's Guardian reports on the interview with Vince Cable in the forthcoming issue of Fabian Review, published on 7th January, noting his call for a long-term reconstruction of British banking.

Vince Cable, the Liberal Democrat Treasury spokesman, has proposed a long-term reform of British banking so that a firewall is built between domestic banking and riskier internationally traded services.

In an interview with the Fabian Review Cable says: "In the longer term the banking sector is going to have to be reconstructed on very different lines. I don't think it's going to be possible to have high street banks that are simultaneously operating like casino-type investment banks."

More here.

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