Labour wants Glass-Steagall for Britain

So liberals in the UK recognize the need to institute their own version of America's now defunct Glass-Steagall Act, but American liberals and conservatives still haven't come around to re-instituting this commonsense measure that was passed in 1933 after the Great Crash to separate banks' customers' deposits from banks' investment activities.

Miliband said: "Either they can do it themselves – which frankly is not what has happened over the past year – or the next Labour government will, by law, break up retail and investment banks."

Hear, hear!  Let's take a lesson from those who have taken a lesson from us!

UPDATE: Ed Miliband is the guy Romney called "Mr. Leader" on his Partial World Tour of Complete Excellence because Romney couldn't remember his name.

Ed Miliband tells British banks: change now or be broken up

Labour leader gives ultimatum to City and says: 'We will split off casino operations'

By Toby Helm, Andrew Rawnsley, Phillip Inman and Daniel Boffey

September 29, 2012 | Observer

URL: http://gu.com/p/3an9y