Friday 23 February 2018

Action, not words, needed on banks

THE new head of Financial Regulation, Mathew Elderfield, talks a great fight. He says the banks need to believe in the threat of enforcement and he is going to set up a special investigations unit to police the sector.

You can't referee a Premier League match with one linesman and no red card in your pocket, he said. Given past delinquencies by banks, a more relevant metaphor might have involved Elliot Ness and machine guns.

But we know what he means and we hope he can deliver.

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