Dear patient readers,
I will be largely off the grid from Friday AM till Tuesday AM (I wish this was a holiday, but it should at least be interesting). Richard Smith will be ably minding the store. Please be nice to him.
There is actually a very big development in the UK on Monday which Richard will cover, namely, the publication of the preliminary version of the Independent Banking Commission report. It is expected to endorse either a partial or full split of retail banking from other bank operations. Given the size and importance of financial services to the UK, it may raise the obvious question: why have US reforms been so limited?
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YS-
We shall be nice, well-behaved and promise to keep the spit balls to the bare minimum as long as this interesting field trip of yours is shared upon your return.
Thanks for such a great blog and all the work you do keeping us up to date.
Have a safe trip.
Is this not tanatmount to the re-instigation of Glass-Steagal. Has anyone called it thus?
Have a good trip, weather should be nice.
Presumably not, seeing as neither Senator Glass nor Representative Steagall were British :-)
I’m British, I am aware of their origins. I was wondering whether the British banking system has always been fused in this way or was there a point at which the two elements were seperated to limit contagion ala Glass-Steagal then reconnected by a Chancellor some time in the early 90’s only later to find regulators 20 years later attempting to cleft them in twain all over again?
Well, here’s hoping Yves is at the Bretton Woods confab.
There can’t be new economic thinking fast enough IMVHO.
Excuse me but shouldn’t Yves be talking to these folks about political economics instead of that animal spirits thing.
No clue, but I have been expecting The Cat in the Hat to show up around these threads trailing Thing One and Thing Two since I first saw Yves’ notice.
FOOOOOD FIGHTTTTT!!!!!
Apocalypse watch: Yves does a runner after saying shes gone out for some ethnic take away.
Run…Yves…run.
Skippy…LOL
…”why have US reforms been so limited?” Because the banks own our government.
Martin Wolf was on Charlie Rose last night.
Martin Wolf on Charlie Rose last night: http://www.charlierose.com/view/content/11603
Well, that’s a relief, I thought YVES was announcing her first proscription list of persona non grata, with me on it. Good luck in getting first hand coverage of this event. Bring back all the dirt you can on the plutocrats.
Yves, take us with you! We won’t make any noise.