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Miliband threatens to break up banks

By  |  October 4, 2012

Under recent scandals over Libor interest rate-rigging and payment protection insurance mis-selling, Labour leader, Ed Milliband has threatened to “break up” banks that fail to separate their retail and investment arms. The Vickers Report into banking, launched during the advent of the financial crisis, recommends banks split up the two arms to separate the High Street side from the riskier investment side and cut their reliance on borrowed money.

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