Sir John Vickers accused banks of being lax in the run-up to the financial crisis and making the catastrophe far worse for taxpayers.
Sir John Vickers accused banks of being lax in the run-up to the financial crisis and making the catastrophe far worse for taxpayers.
The chairman of the Independent Commission on Banking insisted the economic disaster was only "severe weather" rather than a "perfect storm".
He said major reforms were needed - although he stopped short of backing a full split between banks' retail and investment arms.
He said the way investment banks felt they were too big to fail was a "distortion" that must be "neutralised or contained". Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today
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