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Osborne Drops Tory Break-up Threat To Banks

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http://business.timesonline.co.uk/tol/busi...icle6719789.ece

George Osborne has stepped back from an enforced break-up of Britain’s biggest banks in the Conservative blueprint for financial regulation, which is being unveiled today.

Instead, the Shadow Chancellor will say that banks that insist on combining retail and riskier investment divisions will be forced to hold additional capital.

In what would be the biggest shake-up of banking regulation for more than a decade, an incoming Conservative administration would scrap the Financial Services Authority. In its place, Mr Osborne would introduce a new body dedicated to protecting consumers and armed with powers to open lenders to more scrutiny.

In a further step to encourage competition, a Tory government would initiate a full inquiry into Lloyds Banking Group in the light of its acquisition of HBOS last year.

blah blah blah carry on as usual chaps.

It's brave, joined up thinking like this that will save us all from economic catastrophy.

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http://business.timesonline.co.uk/tol/busi...icle6719789.ece

It's brave, joined up thinking like this that will save us all from economic catastrophy.

Clarke was hinting at this the other day - can't find the quote but it was along the lines of 'warning' Dave not to interfere with wealth creation.

I was mocked on this site just yesterday for pointing out that Wee Georgie is an intellectual pygmy - some people so desperately want the Tories back in power their sense of judgement has abandoned them. I see him being shuffled very quickly.

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Clarke was hinting at this the other day - can't find the quote but it was along the lines of 'warning' Dave not to interfere with wealth creation.

I was mocked on this site just yesterday for pointing out that Wee Georgie is an intellectual pygmy - some people so desperately want the Tories back in power their sense of judgement has abandoned them. I see him being shuffled very quickly.

He also has a very smary look on his face at all times.

Like he just pissed all over some orphan children begging in the street while on the way to the interview and hasn't quite gotten over how pleased it made him feel.

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I read it as

In what would be the biggest non event in banking regulation for more than a decade, an incoming Conservative administration would scrap the Financial Services Authority. In its place, Mr Osborne would introduce a new body with a different name.

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...I mean where the hell was he when vince cable was warning about the bubble in 2004....

I don't know, but probably drinking champers with his mate Nat on a boat somewhere swapping notes with Peter.

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