Investment Banking at the End of the Road ; CITY COMMENT
Hilton, Anthony, The Evening Standard (London, England)
GOVERNOR of the Bank of England Mervyn King and US Treasury Secretary Hank Paulson both in their different ways said last week that once this credit crisis is dealt with, there will be no going back to the old ways. There may be tighter regulation across the board, capital adequacy rules imposed on investment banks and even a move once again to separate commercial and investment banking activities as they were in the US under the Glass-Steagall Act from the 1930s right up to the 1990s.
What precisely will be different was not spelled out by these pillars of the financial community, and need not be at this stage. But all the above ideas are being talked about, and others …
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Publication information:
Article title: Investment Banking at the End of the Road ; CITY COMMENT.
Contributors: Hilton, Anthony - Author.
Newspaper title: The Evening Standard (London, England).
Publication date: March 31, 2008.
Page number: 30.
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