Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News - 26/2/2010

 
Bank Reclaim: Break up the banks it's a 'fool's paradise' says governor

Mervyn King, the governor for the Bank of England, has claimed that the banks must be scaled down to bolster economic sustainability.

Speaking at the Future of Banking Commission, sponsored by the consumer watchdog Which?, Mr King said unless reforms are implemented the economy would not recover, further highlighting the risk of a double-dip recession.

He referred to the current banking system as a "fool's paradise" and called for firewalls to be created to prevent future bailouts of the banks, which come at a cost to the taxpayer.

"We've been living in a fool's paradise…We've been saying to the people who provide finance to the banking system that their money is completely safe, yet the banks have been taking risky activities," he commented.

Mr King's comments come after two part-nationalised banks reported huge losses for 2009.

The Royal Bank of Scotland's pot declined by £3.6 billion last year, while it emerged today that Lloyds Banking Group's funds dwindled by £6.3 million in 2009, following its merger with, what have some critics have coined the financially-stricken, HBOS.

If you would like to get your payment protection insurance back - PPI Claim from RBS or Lloyds Banking Group then fill out the Quick Claim form or call Belmont Thornton on 0845 526 0000 for PPI claim advice.ADNFCR-2776-ID-19639214-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide