The Economic Consequences of the Vickers Commission


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The financial crisis showed that bankers have the British public over a barrel. When banks do well, the bankers are awarded huge bonuses. When they do badly, the taxpayer has to step in and save them or face the consequences of systemic collapse of the payment system. Bankers can just 'make the money and run', leaving the government to pick up the pieces when things go wrong. The Vickers Commission was meant to put a stop to this by safeguarding ordinary retail banks from the gambling of investment banks. Laurence J. ...

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