So,Gordon Brown didnt cause the recent financial crisis ?
Central bank governors and senior regulators have agreed new rules designed to prevent a repeat of the recent financial crisis.
ref
http://www.bbc.co.uk/news/business-11275688
So all the billions we gave the banks will not be used to provide loans to small business and help the recovery from recession
instead they will by held in reserve … presumably only to be used if the banks board members see their bonuses dropping again
Better late then never. The problem to me is that this reserve will then be put in the hands of bankers who caused the crisis in the first place. How else will the reserve grow from interest if banks can’t us it?Taxation? But people are already over taxed.
After the great depression checks and balances were imposed on banks etc to ensure that the depression never happened again. The bankers lobbied over the years to be allowed to break the rules and for the checks and balances to be eroded until they were meaningless. It happened then it will happen Again.
References :
So all the billions we gave the banks will not be used to provide loans to small business and help the recovery from recession
instead they will by held in reserve … presumably only to be used if the banks board members see their bonuses dropping again
References :
Where there was good regulation and good management banks were sound and continued to earn profits during and following the US sub-prime mortgage crash which caused many poorly managed and poorly regulated banks to fail from their losses on their US investments resulting in ballooning national debts people are now left with which may never be paid. So now there’s Basel III, so what.
References :