The Anonymous Widower

Robert Peston On Milliband’s Plan For The Banks

Now that Milliband has actually spoken it is interesting to see what heavyweight commentators are saying. The speech is reported here on the BBC and it also contains these comments from Robert Peston on what would happen if banks were limited as to market share.

Bankers have said to me this would lead to what they call a perverse outcome, that as they approached the maximum size they would dump customers they deemed low quality or loss-making.

It is unclear whether these customers would be able to bank elsewhere.

I wonder how many banks would want me as a customer, given that all I want is a money transfer company. And I don’t buy any other services from my bank, like insurance.

And I don’t see why I should pay for my banking!

January 17, 2014 - Posted by AnonW | Finance, News | Banks, Ed Miliband, Politics