Financial Times (January 22)
2010/ 01/ 22 by jd in Global News
President Obama’s banking proposal is “misguided,” “misleading,” and it won’t “stop banks from putting insured deposits at risk.” Banks will find new ways to lose money. Moreover, the shadow banking system, responsible for much of the current crisis, goes largely unreformed. The newspaper even writes the proposal could “make the system less, not more stable.”
The Times (January 22)
2010/ 01/ 22 by jd in Global News
Obama’s war with Wall Street may be good for London. The Times calls the U.S. President’s position a “short-term populist response with little economic logic.” The likely result: banking business will be driven to other areas. The Times hopes this banking business finds its way to the City.
