King’s speech elicits mixed reaction
Reactions to a speech on Tuesday in which Mervyn King, the governor of the Bank of England, suggested that banks should be broken up to circumvent the too-important-to-fail problem have been mixed.
Most considered King's attempt to grapple with the too-important-to-fail issue as worthy, but noted that simply separating banks' retail role from their riskier activities would fail to solve the issue.
Stephen Lewis, the chief economist at Monument Securities, told CentralBanking.com: "Lehman
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