6MS Eye Piece 13 Sep 2011 – Bank Reformation?

This is the first Six Minute Strategist Eye Piece.  These are intended to be brief opinion pieces on topical subjects which are in the news.  I intend to cover technology, social media and business topics, the focus being that the subject is likely to be of interest to the business and financial community.

Today I want to take issue with the Bank Reform plans which have been announced yesterday.  I do not want to discuss whether this is good or bad. I am not swayed by the arguments of politicians or bankers (full disclosure: I am one!) about safety for savers or international competitiveness. Let us instead find the elephant in the room which everyone else is conveniently ignoring.

The question I would like someone to ask and have answered is: How is this going to help businesses obtain access to bank debt and how is it going to help the country’s economy grow?

In my view these issues are more important than covering the backs of politicians or maintaining the bonus pools in the banks.  Why, I ask, is no one focusing on the important issues for business and the economy rather than splitting hairs to protect factional interest?

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