The
Bank of England has today published its
Financial Stability Report. The Report provides an overview of the events leading to the crisis in financial markets and the response of the UK authorities (including the
Banking Bill, currently before Parliament). Section 6 of the report, titled "the medium term agenda", concludes:
the events of the past year or so clearly highlight the need for a fundamental overhaul of the regulatory safeguards used to mitigate systemic risk within the financial system".
I don't know why but it just seems to much what they say. I know the economy is not in the best shape but absolute recession??
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