Thursday, April 9, 2009
Too late for this crisis but still a good idea
The Bank of England is examining whether Britain's biggest banks should formally separate their investment banking and retail banking operations, The Times has learnt. News that such a move is under discussion at such a high level will send fresh shudders through the UK banking sector, still reeling from the fallout of toxic debt and the credit crunch. George Osborne, the Shadow Chancellor, hinted yesterday that a Conservative Government would break up Britain's nationalised banks and would also consider whether to block other lenders from becoming too big.