Detail Sticking Together; Banking Reform   Oleh:  [s.n] Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 404 no. 8798 (Aug. 2012), page 12. Topik: Regulation of Financial Institutions; Investment Banking Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.73 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel The debate about splitting up universal banks has been rumbling since the start of the crisis, when behemoths such as Citigroup and Royal Bank of Scotland (RBS) nearly collapsed, but has reignited recently. Sandy Weill was the man who stitched Citigroup together in the 1990s and in the process helped bury the Glass-Steagall act, a Depression-era law separating retail and investment banking. Last month he performed a perfect pivot: he now wants regulators to undo his previous work. The idea is also on European minds. Wolfgang Schauble, Germany's finance minister, says he would "not exclude" a division of this kind. And Vince Cable, Britain's business secretary, fancies carving up RBS. Bashers of universal banks have three sticks with which to beat them. The first is based on the idea that there something rotten about investment banking, a cultural miasma that infects the "good" bits of the banks where companies and individuals get loans and place deposits. The second is that they are a threat to financial stability, because universal banks tend to be bigger and more complex than more focused peers. And the third is that universal banks are a dreadful deal for investors. Mr Weill's former bank has lost 94% of its value in the past five years; RBS is down by a regal 96%. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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