Independent Banking Commission

[AndyHB]

Today sees the publication of the Independent Commission on Banking's Interim report into UK banking.  Many of the ideas seem, at least on first sight, to be good ideas - but I wondered what folk thought about the Commission's singling out of Lloyds' High Street presence, and suggestion that they sell some of their branches to encourage competition.

We used to bank with Lloyds - and over the years, I have banked with Barclays, Halifax, Nationwide and the Co-op.  Often, this has had to do with convenience, though in the case of both Lloyds and Barclays, ethical issues also came into play.

[tranchiebabe]

We have several accounts with HSBC, with whom we have been for many years, when it was then Midland Bank. We are satisfied with the service we receive. We also have an account with Nat West. We did bank with Barclays for a short while a very long time ago, but weren't satisfied with their service.

[administrator]

The banking commission was set up by the government last June to review UK banks after the financial crisis.

However, the government is under no obligation to implement its recommendations.

Bank shares reacted positively to the report, with Barclays shares up 3.2% and Royal Bank of Scotland 2.4% higher in morning trade.

  Nothing more needs to be said, but  on the news this morning they said that if the banks pull the same profit making stunt, which led to the credit crunch again..we the tax payer would still have to bail them out.

who do you think ultimately profits from the huge deficit?

To finance the National debt, the Bank of England (on behalf of the government)  sell bonds to the private sector. Most of this government debt is bought by financial institutions

Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power.
Benito Mussolini