Capitalism cannot work unless banks are allowed to go bust, Bank of England deputy governor Paul Tucker has said. Mr. Tucker told BBC Two’s Britain’s Banks: Too Big to Save? program that despite changes to the banking system since the 2008 financial crisis, more still needs to be done. Banks still do not hold high enough levels of capital – and no bank should be considered too big to fail.
Banks must be allowed to fail, says BoE’s Tucker
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