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Article: U.K. Moves Could Point Way in U.S. On 'Too Big'.(National/Global)
- Article from:
- American Banker
- Article date:
- November 4, 2009
- Author:
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Byline: Heather Landy
First Of Three Parts
The push to dismantle big U.S. banks gathered fresh momentum Tuesday as the British government forced the breakup of two institutions as a condition of their continued support by taxpayers.
Though it may be too early to declare Paul Volcker vindicated, the planned divestitures agreed to by Royal Bank of Scotland Group PLC and Lloyds Banking Group PLC provide a blueprint for downsizing bailed-out firms. And they make the European Union's recently announced breakup of ING Group NV look less like an isolated case and more like the start of a trend.
But it remains unclear how the U.S. government ...