Petition We will not back casino style banking

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The government must legislate to stop the Bank of England from continuing to act as lender of last resort to banks who deal in investment banking.

Each bank will be free to operate commercial, private and retail banking to its customers and by staying within these parameters keep the backing of The Bank of England and by default the UK taxpayer.

However, any bank which, by choice, conducts investment banking, deals in complex derivatives or takes significant investment risks should be freed from the control of the Bank of England and allowed to fail if it makes unprofitable risk decisions. It will still be able to take deposits and offer returns, however, these will be marked clearly as non-guaranteed and outside the regulatory remit.

This petition is closed This petition ran for 12 months

2 signatures

Progress of the petition towards its next target: 2 of 10,000 signatures required to get a government response

Show on a map the geographical breakdown of signatures by constituency

10,000 signatures required to get a government response

Date closed 16 August 2012
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Petition We will not back casino style banking

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