Dick Lexic
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RBS in trouble again.....more bash a bank
dow could still challenge 14700 but you get the feeling the grand old duke of shorts ain't far away
10 mins to non manufacturing pmi
1 hour and 10 min
As of April 1, with the dismantling of the Financial Services Authority (FSA), the Bank of England has assumed unprecedented dictatorial powers over both monetary policy and oversight over the banking and shadow banking sectors. Bloomberg correctly characterizes the move as "one of the biggest revamps of the institution in its three centuries." Under parliamentary legislation first passed in 2010, the 1,300 staffers of the FSA have been transferred to a new unit at the Bank of England, the Prudential Regulation Authority, which is to be supervised by the Bank's Financial Policy Committee.
Former BOE Monetary Policy Committee member Charles Goodhart told Bloomberg, "It's arguable the scope of the powers, the range of powers, is now greater than any other central bank. The fact that monetary policy and regulatory oversight now all are under one roof obviously eliminates whatever checks and balances ever existed within the system."
Bank of England Assumes Dictatorial Powers
was it the FSA or the SFA?
green lights on all at the moment .....
Morning Dick and All
Was down all day in Asia.
Then BOJ came on stage, then it was shoot for the stars.
Currently long FTSE and short DOW at variance of 40 in Asia.
anyone notice yesterday the ftse fell more than the dax and the s&p more than the wowdow?
at least it looks that way on the charts