The Good Banking Forum includes a unique range of leading figures from academia, finance, politics, the law, trade unions, consumer and civil society groups that are demanding real reform of the banking sector.
The Forum emerged from the Good Banking Summit, organised by nef (the new economics foundation) and Compass in May 2011. The Forum challenges the limited scope of the Independent Commission on Banking, will mobilise public pressure for ‘Good Banking,’ and is campaigning to break-up the banks as a necessary first step.
In putting in order the nation’s finances, we must remember that this was a crisis that started in the banking sector. The failures of the banks imposed a huge cost on the rest of society.
—
At last weeks local banking conference co-hosted by nef (new economics foundation) and the Good Banking Forum we asked some of the speakers what they think their first steps would be to reinvigorate local banking. You can hear their thoughts by clicking below.
How to create a local banking system by neweconomicsfoundation
Lloyds Banking Group has named the Co-operative as its preferred choice to buy the 632 branches it is selling under European competition rules.
Surely good news for all who support a greater role for co-operative banking in the UK.
More here
Aditya Chakrabortty, economics leader writer for the Guardian posed this question in an article earlier this week. After looking at the numbers he concluded:
“…the City looks less like a goose that lays golden eggs, and more like an unruly pigeon that leaves one hell of a mess for others to clear up.”
He was drawing on a report by CRESC called After the Great Complacence.
“The Cresc team totted up the taxes paid by the finance sector between 2002 and 2008, the six years in which the City was having an almighty boom: at £193bn, it’s still only getting on for half the £378bn paid by manufacturing. “
The advent of ‘credit easing’, set out in the Chancellor’s autumn statement, was trumpeted as a huge innovation when he announced it at his own party conference two months ago.
Sir Mervyn King, Governor of the Bank of England has told banks to increase their capital reserves by cutting dividends and bonuses.
Building up capital reserves during this time of economic instability and maintaining lending were necessary and cutting dividends and bonuses would achieve that he argued.
You can read more at http://www.bbc.co.uk/news/business-15984291
Follow the campaign
Petition for a judge-led inquiry into UK banking - The Good Banking Campaign
goodbanking.org.uk
The Libor scandal has once again highlighted the need for a comprehensive inquiry into our banking system. Support our call for a judicial inquiry by clicking below, signing the petition and sharing it with everyone you know. Add your support here
Read more
Read More