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Analysis

A Price Worth Paying?

Analysis

BBC

News, Politics

4.61K Ratings

🗓️ 28 November 2011

⏱️ 29 minutes

🧾️ Download transcript

Summary

Banks are underwritten by the government in Britain. But should the taxpayer bail out so-called casino banks? In a programme previously broadcast on 1 February 2010 - Edward Stourton talks to the growing band of experts who believe that risk-taking investment banks should be forced to face the consequences of their losses. We hope you enjoy this programme - which we offer you while Analysis is off air.

Transcript

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0:00.0

Just before this BBC podcast gets underway, here's something you may not know.

0:04.7

My name's Linda Davies and I Commission Podcasts for BBC Sounds.

0:08.5

As you'd expect, at the BBC we make podcasts of the very highest quality featuring the most knowledgeable experts and genuinely engaging voices.

0:18.0

What you may not know is that the BBC makes podcasts about all kinds of things like pop stars,

0:24.6

poltergeist, cricket, and conspiracy theories and that's just a few examples.

0:29.7

If you'd like to discover something a little bit unexpected, find your next podcast over at BBC Sounds.

0:36.0

Thank you for downloading this podcast from the BBC.

0:40.0

Analysis is off air at the moment so we thought we'd give you a chance to hear a previous program.

0:45.2

This week, a price worth paying?

0:47.8

Originally broadcast on the 1st of February 2010.

0:52.0

Should the taxpayer bailout so-called Casino Banks, Edward Sterton talks to the growing

0:57.5

band of experts who believe that risk-taking investment banks should be forced to face the consequences of their losses.

1:06.4

When Barack Obama vowed to take on the banks last month, both the tone and the substance of

1:11.0

what he said took everyone by surprise.

1:14.0

In recent years too many financial firms have put taxpayer money at risk by operating hedge funds

1:19.4

and private equity funds in making riskier investments to reap a quick reward.

1:23.7

If these folks want a fight, it's a fight I'm ready to have.

1:27.4

For some months now there's been a low-key rumble of debate on both sides of the Atlantic

1:31.9

about radical reform of the banking system.

1:35.0

President Obama has forced that debate out of the University Commonrooms and the banking

1:38.6

boardrooms and put it firmly on the political agenda. Much of it sounds technical and specialist, but it could

1:45.8

have a decisive impact on our future prosperity. To understand it requires some history.

...

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