Interesting how Alistair Darling is against splitting up banks, but in favour of denying banks the ability to set their remuneration packages. Somebody needs to tell him you can’t have it both ways.
Gordon Brown and Alistair Darling today hit back at calls from Mervyn King, the Governor of the Bank of England, for banks to be split-up, stating such a move was “not right for the 21st century”.
The Chancellor also condemned banks – in particular Goldman Sachs – for handing out bumper bonuses despite their role in the financial crisis and the billions spent by the Government in supporting them.
The Prime Minister told MPs today the financial crisis was caused by insufficient global regulation and was not the result of banks combining their retail and investment activities.
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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