banking
UKFI bosses quizzed on Glass-Steagall and Northern Rock
Members of the Treasury select committee questioned UKFI bosses on possible banking sector reforms in Parliament today, reports Chris Tarquini.
Debating financial regulation: The people v the City
As students continued to protest against the commodification of education, and Ireland prepared for a bailout, the New Political Economy Network met to discuss the realities of financial regulation. It was agreed that regulation – or re-regulation – is needed in order to protect against predatory and dehumanising financial practises. Inseparable from regulation, according to Maurice Glasman and Costas Lapavitsas, is the state’s capacity to be a force for social democracy.
Coalition gives up on tackling bankers’ bonuses as 2010 total set to hit £7bn
It’s hardly a surprise, but the coalition has decided that it has done as much as it intends to tackle excessive bankers’ bonuses, even at a time when small businesses continue to suffer as banks refuse to lend. Most banks will not pay out their bonuses for 2010 until February 2011 but the Treasury minister Lord Sassoon’s declaration in the House of Lords this week indicates the government is satisfied that its ‘work’ on City bonuses is complete.
Banks get the begging bowl out for small business lending fund
A group of six of our most prominent high street banks have got the begging bowl out again and headed for the Treasury, reports Ben Fox.
New financial regulations will harm households and small businesses
The financial sector breathed a sigh of relief this week as the Basel Committee’s recommendations for new rules on banking regulations were announced; stock markets around the world rallied. Rules on the amount of capital banks must hold to cover risk – and the extent to which reserves must be liquid – are less stringent than expected.