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Wednesday, 21 October 2009

On banking

More to come on this later, but a little bit from PMQs on Merv King's comments:
"12.14pm: Brown says the reforms being introduced wil introduce more competition into banking. Northern Rock was a retail bank and it collapsed. Lehman Brothers was an investment bank and it collapsed. So it is not the case that the problems were caused by banks trying to perform both functions. (Good point.)"

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