European commission forces 'too big to fail' banks to be broken up.

D

Debaser82

http://business.scotsman.com/royalbankofscotland/Darling--Bailedout-RBS-and.5723290.jp

http://www.mycartel.co.uk/stories/214653/_ING_breakup_plan_hits_European_bank_share_prices.html

ING and RBS, both banking giants with a +1 Trillion USD balance sheet have been ordered to be broken up into pieces so they will be a threat to the respective countries no more or far less should they come into trouble once more.

Other banking giants who received state help are soon to follow.

I for one aplaude this smakdown on banking interests by politicians as it is a rare event worldwide this day in age.

Wouldnt have thought I'd ever see the day.:)
 
Quote from Debaser82:

http://business.scotsman.com/royalbankofscotland/Darling--Bailedout-RBS-and.5723290.jp

http://www.mycartel.co.uk/stories/214653/_ING_breakup_plan_hits_European_bank_share_prices.html

ING and RBS, both banking giants with a +1 Trillion USD balance sheet have been ordered to be broken up into pieces so they will be a threat to the respective countries no more or far less should they come into trouble once more.

Other banking giants who received state help are soon to follow.

I for one aplaude this smakdown on banking interests by politicians as it is a rare event worldwide this day in age.

Wouldnt have thought I'd ever see the day.:)
More...

I am so glad, I hope US follows suit. Bail outs are/were absolutely the wrong thing to do. They could easily enforce anti-trust laws to break these companies up...no need for new legislation just active enforcement. Nobody can whine and say this is necessary, because if 'Ma Bell had to be broken up so our telephone bill didn't double I think the Banks can be broken up.
 
Quote from Debaser82:

http://business.scotsman.com/royalbankofscotland/Darling--Bailedout-RBS-and.5723290.jp

http://www.mycartel.co.uk/stories/214653/_ING_breakup_plan_hits_European_bank_share_prices.html

ING and RBS, both banking giants with a +1 Trillion USD balance sheet have been ordered to be broken up into pieces so they will be a threat to the respective countries no more or far less should they come into trouble once more.

Other banking giants who received state help are soon to follow.

I for one aplaude this smakdown on banking interests by politicians as it is a rare event worldwide this day in age.

Wouldnt have thought I'd ever see the day.:)
More...

A stellar black hole is a black hole formed by the gravitational collapse of a star more massive than Sun (20 or more solar masses, though the exact amount of mass needed has not been precisely determined and may depend on many parameters) at the end of the star's lifetime. The process is observed as a supernova explosion or as a gamma ray burst....

Two possible supernovas less on the horizon...

:)
 
dont be fooled by the european union, this will simply have the effect of divesting power into private banking cartels mainly linked to the aristocracies of european families.LOL. Europeans are some of the msot protectionist people on earth and there is now way they can ever compete with us.
 
I applaud the EU on this. Do I think the US is intelligent enough to do the same? Probably. But the lobbying will prevent corrupt politicians and Fed governors from ever doing so.
 
The UK are doing this as well.

It's the happiest news I've f***ing heard in ages from politics. The question is though whether they will indeed go through with it or are they just going to stall until the next elections?
 
Quote from jueco2005:

EXCELLENT.

Too big to fail=Monopolies

Nothing more.......Nothing less.
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Exactly. Aren't the laws already in place to control this? Why not enforce them?
 
Quote from Kassz007:

Exactly. Aren't the laws already in place to control this? Why not enforce them?
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From my study and talking with Canadians they are all about monopolies. There appears to be little competition. The big difference is they are highly regulated. None of these BS mortgagees like the US had.
 
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