UK says will allow banks to take more risk to stay competitive. Britain will change its rulebook to allow banks to take more risks in order to keep the City of London a leading global financial centre, a government minister said on Tuesday.
UK says will allow banks to take more risk to stay competitive. Britain will change its rulebook to allow banks to take more risks in order to keep the City of London a leading global financial centre, a government minister said on Tuesday.
48 comments
> “The overall thrust of things is to allow more risk… You get reward from taking risks, you shouldn’t be risk off, we just need to manage that in an appropriate way,” Griffith told a Financial Times event.
Did none of them read this:
* [Financial Times: The UK government should stop doing stupid stuff](https://archive.ph/HVEag)
Yeah, risk for who? Who will foot the bill if these banks get into too much trouble? I think I know the answer!
Because that worked well in 2008 when they weighed the risks and sold mortgages to people they knew couldn’t afford to pay them so they could maximise their bonuses.
Same old, same old.
Ah more risk were already planning the next global financial crisis. Nice least we’re getting the ground work set nice and early for this one.
Thank goodness the trustworthy
*checks notes*
Banking industry?
Is having regulations relaxed. Surely this will go better than last time.
The Tories really are just trying to speed run Thatcher aren’t they?
Great idea. Why don’t we let them invest in some “toxic futures”? Maybe we can hand out mortgages like sweeties again? Bonuses? Make them unlimited!
Went really well in 2008.
We should all, for a week or so, just withdraw all cash. Imagine the carnage.
The current regime ring fences retail banking, if investment banks can take more risk without negatively impacting on retail banking then crack on.
Just stand by your word and don’t bail out an investment bank that makes a big loss.
I can’t wait to bailout Billionaire bankers/their crony Lords using idiot British taxpayer money !
> Britain to allow banks to take more risk to stay competitive
Oh this will end well.
Well ok then but only if we can hold the decision makers personally accountable this time.
The plan you make when you know you’re going to lose the next GE but want to encourage shit to hit the fan midway through your successors term.
So,
Cancel the cap on bonuses, now raise leverage (this is what nearly killed pension funds recently no need to go to 2008…).
If a bank goes under: who pays?
London is a fkn huge banking haven and the only real rival is NY so it’s a winning strategy – tantamount to a criminal laundry but it’s high value stuff.
Tbf it isn’t really the banks taking any risk at all, they know their chums in government are always willing to steal from the country to cover any losses they incur……
Ah, so there it is. The signalling that they’re off to the races again.
Irresponsible lending, huge bonuses, crash, bailout.
Fuck this, honestly.
Provided that when their risks fail that the general public gets a massive payout at the expense of the CEO and upper management.
At the very least when a bank fails, a reality TV show on channel 4 of the CEO living forever on job seekers allowance to see how they manage.
Bankers encouraged to take more risks (with your money) and allowed uncapped performance related bonusses (from gambling your money).
​
The Tory party, bunch of bankers.
Hey, I know this one.
History tends to repeat itself if you don’t learn from it.
This is sound decision making and definitely will not lead to another financial crisis as the banks have in the past demonstrated a strong and consistent level of responsibility in the markets.
Cos that’s never been a problem before ….cough sub prime mortgages cough
Oh, great. Has the entire world got memory loss? I sometimes say something that happened maybe 10 years ago will happen again and when it does happen I have people saying I’m some sort of wizard, when a really I’m just reliving the same mistakes over and over again.
If this life is a coma dream then please just pull the plug.
Ah excellent! Lots of short term profits for those who can buy into the shares. Then when it all goes belly up the government (aka the general public) will pick up the tab.
Cunning, very cunning! Richer get rich and everyone gets to take the risk!
So another housing recession coming up in the next few years then.
“Smart” Banking ideas are never going to drive an economy. What drives an economy is being smart with your natural resources you export (Norway/Statoil) and using them to enrich your population.
Ah if only we did not Privatize BP…
Ooh, time for me to package up my credit card debt as a AAA bond.
It’s ok, we’ll bail you out again. Fucking leaches.
And let me guess, they’ll privatise the profits when they’re winning and socialise the losses when things go wrong.
Insidious fuckers.
Worth a try, if you ask me. I mean, they haven;t tried this before……have they!?
OK so I’m gonna need to upgrade my level of contempt and hatred for the Torys, but I have nowhere to go? My piss has already boiled into superheated plasma.
just so we can give them our money when it all goes tits up again
Sounds like the govt/BOE are willing to take insane risks to prop London up at all costs, it’s the same reason politicians and businesses suddenly demonised working from home once COVID became less prevalent and deadly.
I’d be fine with this if it was paired with tough jail sentences for those responsible when it goes wrong, ie. 2008.
Always the friggin plan. The world’s money laundry.
I feel like tories stepping down would be more likely to be successful in keeping London an economic centre.
Not this fucking shit again. Dumb fucks never learn. Corruption all the way down. London is rotted to its core
I am sure this will all end well. When did banks taking risk ever end in tears?!? Oh, hang on, I’ll just get me coat…
I’m fine with risk as long as the risk takers pay with their own bonuses if the risk doesn’t pay off, and no bailouts.
The Tories shot the UK in the head with Brexit and are now hoping letting the banks take more risks will help to recoup some of that damage. That is definitely going to pan out without any major issues whatsoever.
Cool- just what we need, another financial crash. That will take our minds off Brexit.. and Ukraine … and the energy crisis… and the dumbest period of government this country has ever experienced. FFS
Any one watched capitalism: a love story recently? We’ve seen this time and time again.
Because that’ll end well.
One man’s red tape is another man’s guarantee of standards.
So in another desperate attempt to mitigate the damage done by Brexit, let’s give our rich doner friends what they want (again).
Surely nothing can go wrong.
Well, that’ll be good. More bailouts coming your way, from your caring, sharing Tory pals.
Not like it’s any actual risk for them anyway
If/when things go tits up they’ll just get bailed out again by the taxpayers
Oh good, you can I put that £350 million into the NHS as you promised.
Ah yes, nothing could possibly go wrong by unleashing the coke-head degenerate gambling freaks and letting them run hog wild, again.
/s
Isn’t that the reason for the crash of 2007, because regulations were relaxed? Capitalism needs reins to control its basic instinct for self destruction, which usually ends with socalist policies to put things right. Rinse, repeat 🤦♂️🤦♂️🤦♂️🤦♂️