Re-thinking the Structure of the City of London

Posted in Blog at 3:35 pm

Mr. Gapper's threefold division of the banks would not only be a good idea, it should be complemented by requirements that major risk-takers be risking their own wealth above all. Commercial banks can be limited-liability corporations; investment banks should be at most closely-held corporations, and active position-takers and risk traders should have to have a major unlimited partnership element to their legal structure. Read more [...]