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Bailed out banks may be unstable, warns Osborne

Banks bailed out by the government could pose a risk to financial stability, shadow chancellor George Osborne has warned.

In a speech at the Royal Society of Arts in London last week, Osborne argued that big banks bailed out with taxpayers’ money may feel emboldened to take irresponsible risks.

He says: “Not only do bigger financial institutions do more damage when they get into trouble but their size and ‘too big to fail’ status may also encourage them to behave irresponsibly and take risks smaller banks dare not.”

Osborne says there may be a case for big banks to be broken up to mitigate risk.

He adds: “We should consider having smaller banks. It would be a bitter irony if we came out of this crisis with a banking system which is even riskier than the one we had before.”


Tories pledge to get rid of HIPs

Shadow housing minister Grant Shapps has pledged that the Conservatives will abolish Home Information Packs if they are elected at the next general election.

It’s counter-intuitive stupid

It’s odd really and it’s probably a bit like we stick with the same high street bank ad infinitum, not because it does everything well but just out of force of habit.I’m thinking of politicians and economists – they cock up all the time but we continue to accept their rationalisations and excuses and even […]

ARLA reveals Budget wish list

The Association of Residential Letting Agents is putting pressure on Chancellor Alistair Darling to take radical action in his April 22 Budget.

Why we all need to back the housing underdog

The UK loves an underdog. There is something irresistible about the story of the little guy standing up to the established players and leaving them with a bloody nose, whether it is Henry Cooper putting Muhammad Ali on the mat or the Wallabies trouncing the Kiwis in rugby. At the Conservative Party conference, LendInvest championed […]


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