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Will it be 7 years or more of rip off by pseudo bankers?

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  • nJayM
    Rank 5 Registered User
    • Jun 2008
    • 1687

    Will it be 7 years or more of rip off by pseudo bankers?

    Will it be 7 years or more of rip off by pseudo bankers?

    The original report that recommended 'ring fencing' UK banks.
    http://bankingcommission.independent.gov.uk/

    It was then proposed by the Conservatives to be implemented by 2015.

    That sadly has been pushed further to 2019. (I have already posted before on the delay)

    http://www.bbc.co.uk/news/business-16235636

    When mergers occur they occur fairly quickly.

    In the case of the companies that have run under an umbrella cover of calling themselves banks to encompass the 'true banking' and other investment operations (non banking) it should be as relatively easy to de-merger or split the businesses into at least 2 distinct company accounting financial statements (after all they are currently managed under one set by a team of accounting professionals).

    Sure there will be a internal tussle as to who owns what assets but as we full well know many of these assets are virtual anyway.

    Does that mean that we the UK public condone Treasury resources being used to continue to prop up the shenanigans of errant UK financial operations or is it time for the Conservative Government to pass legislation via the House of Lords that permits any UK bank not ring fenced by 2015 to face a huge surge in Corporation Tax or penalties for every month of further delay.
    Jay

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