high finance and its malcontents, occult fantasies

Clinamenic

Clinamenic

Binary & Tweed
version said:
This doesn't bode well.

www.reuters.com

Britain to allow banks to take on more risk to stay competitive

Britain will change its rulebook to allow banks to take more risks to help to keep the City of London's status as a leading global financial centre, a government minister said on Tuesday.
www.reuters.com www.reuters.com
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"We can make the UK a better place to be a bank, to release some of that trapped capital over time around the ring fence," he added.

Banks have lobbied to ease rules that force them to ring fence or insulate their retail arms with a bespoke cushion of capital, a set of rules the Bank of England has vigorously defended.

The finance ministry has promised a "Big Bang 2.0" shake up of financial rules to boost the City's global competitiveness, though Griffith said he would be "pragmatic" and "selective" when it comes to scrapping any EU-originated rules.

Never heard this term "ring fence" before, but its a good example of how financial responsibility almost necessarily entails capital inefficiency.
 
version

version

Well-known member
Rules that forced banks to legally separate retail banking from riskier investment operations will be reviewed.
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The government has already announced it will scrap a cap on bankers' bonuses and allow insurance companies to invest in long-term assets such as housing and windfarms,
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Rules governing how senior finance executives are hired, monitored and sanctioned will be overhauled. There will also be new rules around bundling investments together into tradeable units - a process called securitisation.
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www.bbc.co.uk

UK banking rules in biggest shake-up in more than 30 years

Rules introduced after the financial crisis in 2008 that were aimed at limiting risks will be eased.
www.bbc.co.uk
 
version

version

Well-known member
While in Edinburgh he was asked whether the reforms risked sowing the seeds of the next financial crash.
He said: "We have learned the lessons of that crash, we put in place some very important guardrails which will remain, but the banks have become much healthier financially since 2008."
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Hunt's either naive or doesn't give a shit if he thinks that 'health' is gonna be maintained if they remove the regulations that brought it about.
 
version

version

Well-known member
www.reuters.com

SVB is largest bank failure since 2008 financial crisis

Startup-focused lender SVB Financial Group became the largest bank to fail since the 2008 financial crisis on Friday, in a sudden collapse that roiled global markets, left billions of dollars belonging to companies and investors stranded.
www.reuters.com www.reuters.com

March 10 (Reuters) - California banking regulators on Friday moved quickly to close startup-focused lender SVB Financial Group (SIVB.O), the largest bank failure since the financial crisis, a sudden collapse that prompted the global banking sector to shed billions in market value.
 
sus

sus

Moderator
Yesterday I was thinking about how there's two kinds of schizo texts, one is the Angelicism kind one is the Grapenut kind, but curiously the occult is totally lacking from the former and totally indispensable in the latter
 
version

version

Well-known member
version said:
Recently saw someone suggest applying this from Baudrillard to the economy rather than God,

“But what if God himself can be simulated, that is to say can be reduced to signs that constitute faith? Then the whole system becomes weightless, it is no longer anything but a gigantic simulacrum - not unreal, but simulacrum, that is to say never exchanged for the real, but exchanged for itself, in an uninterrupted circuit without reference or circumference.”
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