FSA review opposes Glass-Steagall re-introduction

Lord Adair Turner has come out against the re-introduction of a separation between investment and commercial banks, laid down by the US Glass-Steagall Act of 1933, dismantled by legislative reform in the 1980s and 1990s.

His stance runs counter to suggestions by Bank of England Governor Mervyn King in a speech to City bankers yesterday that this type of legislation could be used to prevent retail deposits from being used to fund investment banking.

WSJ Logo
How Trump Got His ‘Big, Beautiful Bill’ Across the Finish LineExternal link

How Trump Got His ‘Big, Beautiful Bill’ Across the Finish Line