Published: 31 Jan 13 08:12 CET | Print version
Online: http://www.thelocal.de/national/20130131-47669.html
Germany aims to introduce legislation on banking separation in order to protect customers' deposits from riskier areas of business, according to a draft law seen by news agency AFP.
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Your comments about this article:
"At the same time, banks with high deposits would find it difficult to find attractive investments for customers, Jain said." Yes, like attractive investments using German savers' money a few years ago for overpriced property in Ireland, Spain or the US and for government bonds from countries like Greece that can never pay them back.
Wasn't it such banks that had a big part in causing house price inflation in Ireland and Spain. German banks could not get away with this in Germany so they became bondholders in foreign banks and proceeded with such risky inflationary tactics in other EU states. Now the citizens of these countries have to bail out these banks and indirectly the German banks. But when ever did big business and banking concerns ever give a fcük about anybody.
The banks using our money for risky investments is a bad practice.If the bank makes money on short term risky investments we see nothing as depositors.On the other hand if banks loose your money then the tax payers inevitably will pay for the bailout.
In the US they repealed the Glass-Steagall act in 1999 which prevented commercial banks from investing in the Wall Street Casino.This paved the way for the financial meltdown and the bailouts of 2008.