...on government bonds risks implosion, warns watchdog.
Bond markets are increasingly at risk of a global meltdown after hedge funds piled a record £2.2tn into government debt, a global watchdog has warned.
The Financial Stability Board (FSB), led by Andrew Bailey, the Bank of England Governor, warned countries were dangerously exposed to the threat of fire sales in the event of economic shocks.
Reform will tax the banks even if they don’t like it..
Nigel Farage has confirmed Reform will slap a tax on the UK’s banking giants in the latest dramatic escalation of his party’s tensions with the City.
Speaking at the World Economic Forum in the Davos, Farage said: “This will be tough for banks to accept but I am sorry – the drain on public finances is just too great.”
He framed the move as not a direct tax but instead the banks were “not going to get free money anymore”.
A tax on the sector was previously floated in the Reform manifesto, leading to the industry warning of “real consequences in the economy”.
"Strong returns over the last five years represents a renaissance for banks after a decade in the doghouse following the financial crisis in 2008 which required banks to rebuild their beaten-up balance sheets. "
Imagine how long it would take for banks to recover should AI & Shadow Banking crash.....The Everything Bubble!
Multiple compensation schemes under Tory governments have been officially criticised for long delays, backlogs, and bureaucratic problems — particularly Windrush, Post Office Horizon, and the Official Injury Claims portal.