Comments on: Call to break up UK banks resonates here http://www.crikey.com.au/2009/10/21/call-to-break-up-uk-banks-resonates-here/ now with extra source Sun, 12 Feb 2012 02:48:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: AR http://www.crikey.com.au/2009/10/21/call-to-break-up-uk-banks-resonates-here/#comment-42310 AR Wed, 21 Oct 2009 22:51:42 +0000 http://www.crikey.com.au/2009/10/21/call-to-break-up-uk-banks-resonates-here/#comment-42310 After the funnymunny shennanigans of the 80s when we had bright shiny banks on every street corner, often the same brand 50mts apart (in Bondi junction there were 2 Westpac facing each other and a 3rd all of 5 shopfronts away from them) the cry from the sleek'n'slimy was 'big is better'. Many pointed out at the time (now a generation distant) that, the bigger a bank becomes, the only question is up against which wall will the money be sprayed. As we've just seen and will again, sooner rather than later, unless regulated, PROPERLY. After the funnymunny shennanigans of the 80s when we had bright shiny banks on every street corner, often the same brand 50mts apart (in Bondi junction there were 2 Westpac facing each other and a 3rd all of 5 shopfronts away from them) the cry from the sleek’n’slimy was ‘big is better’.
Many pointed out at the time (now a generation distant) that, the bigger a bank becomes, the only question is up against which wall will the money be sprayed. As we’ve just seen and will again, sooner rather than later, unless regulated, PROPERLY.

]]> By: michael wholohan http://www.crikey.com.au/2009/10/21/call-to-break-up-uk-banks-resonates-here/#comment-42215 michael wholohan Wed, 21 Oct 2009 05:32:54 +0000 http://www.crikey.com.au/2009/10/21/call-to-break-up-uk-banks-resonates-here/#comment-42215 I would really like to see tis question meaningfully addressed. If banks are too big to to fail, shorely they are too big to exist. The fact that they do means we as a society are hostage to their every move. Having spent 5months in the UK this year & following the discussion, which generally is of a better standard than in OZ, I still felt there was no political will to act, and the same seems to apply in thUSA. The question seems be are the governments in all 3 countries to frightened to speak the truth to world of money. The Canadian thinker John Ralston Saul suggested years ago at a lecture in Sydney that having seen off Facism, Communism, the enemy of democracy which remains & remains unacknowledged, is Corporatism. THe "too big to fail" demonstrates the truth of this. Too many of the wrong questions are being asked about many very important questions. Mervyn King is on the right one here . WHERE IS OUR MERVYN KING? I would really like to see tis question meaningfully addressed. If banks are too big to to fail, shorely they are too big to exist. The fact that they do means we as a society are hostage to their every move. Having spent 5months in the UK this year & following the discussion, which generally is of a better standard than in OZ, I still felt there was no political will to act, and the same seems to apply in thUSA.

The question seems be are the governments in all 3 countries to frightened to speak the truth to world of money. The Canadian thinker John Ralston Saul suggested years ago at a lecture in Sydney that having seen off Facism, Communism, the enemy of democracy which remains & remains unacknowledged, is Corporatism. THe “too big to fail” demonstrates the truth of this.
Too many of the wrong questions are being asked about many very important questions. Mervyn King is on the right one here . WHERE IS OUR MERVYN KING?

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