Socialist Worker

The Tories let the banks off the hook - again

Issue No. 2269

The Tories promised this week not to touch bank regulation until 2019.

And even the few “reforms” the government has pledged in almost a decade’s time will do nothing to cut the claws of the feral fatcats.

The main proposal is not to break up the banks, but instead “ringfence” investment banking from high street banking.

The banks themselves will be left in charge of these flimsy fences. It won’t stop any crisis.

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Tue 13 Sep 2011, 18:23 BST
Issue No. 2269
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