Simonds’ banking reform cartoon beautifully illustrates what is wrong with Vickers & why Dimon is out to lunch September 12, 2011Posted by larry in economics.
Tags: banking reform, Dimon, Vickers
Why Dimon is out to lunch is clearly shown by Felix Salmon in his post, Dimon vs. Vickers. A Martian listening to Dimon might be forgiven for thinking that he is a few sandwiches short of a picnic. What Robert Peston has to say on this issue isn’t worth listening to – what are we supposed to make of his, undoubtedly true claim, that Vickers is the most radical proposed reform of the UK banking system? Especially in light of the proposed reform’s weaknesses, so well set out by Heather Stewart in her “Banks warn that the Vickers report will damage them“. Huh, as if.