They are saving a couple of Big Ones for The Queen's Speech:
The Prime Minister's slate for 2009, will focus on boosting a sliding housing market... Banks will also face huge fines for failing to treat their customers fairly, with ministers making the current voluntary code of practice legally binding*. The move follows concerns that institutions are flouting their own guidelines amid the fallout from the credit crunch.
Via Obnoxio.
* A bit like being obliged to carrying a voluntary ID card, I suppose.
Forbidden Bible Verses — Genesis 10:21-32
2 hours ago
5 comments:
OT, but how about a running total of the value of "equity" raised in debt-for-equity swaps now that plenty of companies are getting in on the game. Would be useful to know how much taxpayers money ISN'T being wasted on Gordon buying equity.
NVM, because it's difficult to quantify - with New Star for example, do we take nominal or market value of bonds or shares?
Either way, with the UK ones we've identified so far, we're talking tens or hundreds of millions in total, chickenfeed compared to the £50 billion-odd that UK commercial banks appear to need in capital.
Interesting word "fair" it only really exists in the English Language and has over 15 different definitions in the dictionary.
"Fair" probably comes from the same part of the brain that do most expletives, in fact its not a word at all just a sound.
The Left love to hijack language for their own ends. How can anyone be against "fair"?
Fair = I get my share, as defined by me
NVM, it would be better if people realised that "fair"means that other people get a share of what you think is yours, as defined by politicians seeking re-election.
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