Sunday, 28 November 2010

Interesting comment from the ABI

On this Walker u-turn business:
Some City investors are concerned that if only RBS and Lloyds were forced into disclosure, they would be placed at a disadvantage to rivals. But the Association of British Insurers, which represents holders of about 15% of shares on the stock market, said it supported industry-wide disclosure.

"We were in favour of more transparency at the time of the Walker review and remain so," an ABI spokesman said.
So we're getting to the situation where the Tories (because it clearly is the blue half of the ConDems driving this) are making it harder for investors to get the information they want. The only reason for this seems to be because that's what the bankers said was best (and David Walker is employed by ...errr... Morgan Stanley).

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