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Ex-BofE deputy: less banker bashing and more growth

Former Bank of England deputy governor Sir John Gieve has argued regulators should focus less on attacking banks over bonuses and concentrate on encouraging an economic recovery.

The Daily Telegraph reports that while Gieve gave moral support for the crackdown on banks, the “softer policy options” of the US were doing more for re-introducing growth than the UK’s strict oversight of the banks.

Speaking at Fathom Consulting’s Monetary Policy Forum event yesterday, Gieve said: “Pressure on liquidity and capital, plus continued debate on what is an allowable banking model, is pushing them to deleverage more than they might be forced to anyway.

“I think this is an area where the US managed, by being rather over generous on any objective basis, to get their banks out of crisis mode and back into lending mode more than we have.

He added: “I would be seeing if there were things we could do… that would be more effective than denouncing them for continuing to pay dividends and bonuses, which is a perfectly valid point but in macroeconomics the job is to get the aggregates to move.”


Ex-Origen duo to lead Punter Southall start-up

Former Origen duo Stephen Greenstreet and Rob Tinsley are to head a new at-retirement business for Punter Southall. The new Aspire division will provide non-advised and advised solutions to individuals, corporates and strategic partners. It will also offer pre-retirement consultancy services and launches later this year. Greenstreet was managing director at Origen and Tinsley was […]


MM Leader: FSA Arch cru redress scheme will destabilise sector

The FSA’s decision to launch its first-ever consumer redress scheme to force IFAs to pay up to £110m to Arch cru investors raises a number of concerns. The regulator has come under significant political pressure to find a solution to ensure investors receive appropriate compensation. However, the quickest and easiest way of obtaining compensation is […]

Q1 repossession figures static, says CML

The number of repossessions in the first quarter of 2012 was 9,600, according to the Council of Mortgage Lenders. The figure is roughly the same as the first quarter, breaking a recent trend of year-on-year increases. Repossessions in Q1 were higher than the 8,700 that took place in Q4 of 2011, but this represents a […]

Who cares?

By Tracey Dickson, marketing consultant There are almost 7 million carers in the UK – that’s around 10 per cent of the population who provide unpaid care for a disabled, seriously ill or older loved one.1 But according to a report from the charity Carers UK, 20 per cent of people providing 50 hours or more of care […]


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There are 2 comments at the moment, we would love to hear your opinion too.

  1. I have no problem with PROVIDED 1) They pay back all tax payer money in full. 2) The retail arms are segrigated from the Investment banking arms so depositors dont loose any money. 3) If they get into trouble and fail that tax payers are forbidden to bail them out. 4) Everyone involved in any failures must have of their 100% assets used to provide funds into the investment arms to try to rescue it & if that is not enough then it fails – end of story. It would be interesting to see how much less risk these idiots would take if their own assets were on the line if things go south. Until then keep the status quo and make them pay for what they did.

  2. OK but what about regulation of domestic mortgage lending as well as segregation of “investment” arms – politicians and banks alike have a completely blind eye to this

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