I understand the hon. Gentleman's point, but it assumes that if banks were allowed to go broke, subject to looking after the depositors, they would behave differently without further regulation of their activities. I am not confident that that is the case in view of the number of apparently reputable banks that have lost a fortune either directly or indirectly in the sub-prime mortgage scandal in the United States.
Northern Rock and Banking Reform
Proceeding contribution from
Frank Dobson
(Labour)
in the House of Commons on Monday, 10 March 2008.
It occurred during Estimates day on Northern Rock and Banking Reform.
Type
Proceeding contribution
Reference
473 c41
Session
2007-08
Chamber / Committee
House of Commons chamber
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Timestamp
2023-12-15 23:56:59 +0000
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