Since the launch of the ECCR report The Banks and Society: Rebuilding Trust in March 2011 members of ECCR West Midlands have met some of the bankers and academics in the region, as well as regional officers of the Bank of England. This paper reflects on some of the conversations held; however the views are those of the author alone and are offered as a contribution to the continuing discussion.
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.
Archive for February, 2012
It has taken a very long time, but at last the establishment seems to be using the b-word about the UK banking oligarchy.
Yes, in order to provide the UK economy with the support it needs, we need to break up the big banks.
We have become used to trading accusations about the way the big banks – which account for practically all banks in this country – have been progressively turning their back on the real world in favour of the speculative one.
A new campaign has hit the headlines with the simple premise of encouraging those who believe that their banks are behaving unethically to move their deposits to a more ethical bank. More details at http://moveyourmoney.org.uk/
Below, Andrew Simms of the new economics foundation explains why we should back the campaign.
Yesterday the TUC released a report entitled ‘Banking After Vickers’. The report focuses on those issues which have had less of a political spotlight on them than the obvious challenges of stopping another banking crisis and tackling excessive remuneration.
The report identifies four key areas (investment, SMEs, rebalancing and ‘green growth’) where banks are failing to support to the real economy and the UK’s recovery. It aims to start a discussion on what the problems are and to promote a fuller debate on the potential solutions.
You can read more at http://www.tuc.org.uk/economy/tuc-20572-f0.cfm