Fwd: Fw: MONITORING PA - DARLING WARNS US OVER WAR ON WALL STREET
[{"sender": "Power Peter ACOMMS <power.peter@acomm.com>", "recipients": ["jeevacation@gmail.com"], "timestamp": "Sun, Jan 24, 2010 at 9:59 AM", "subject": "Fw: MONITORING PA - DARLING WARNS US OVER WAR ON WALL STREET", "body": "Fyi\n\nSent from my BlackBerry® wireless device"}, {"sender": "\"Power Peter ACOMMS\" <power.peter@acomm.com>", "recipients": [], "timestamp": "Sun, 24 Jan 2010 14:55:16 -0000", "subject": "Fw: MONITORING PA - DARLING WARNS US OVER WAR ON WALL STREET", "body": ""}, {"sender": null, "recipients": ["COMMS - Press Office Monitoring", "COMMS - Press Office Operational"], "timestamp": "Sun Jan 24 13:01:39 2010", "subject": "MONITORING PA - DARLING WARNS US OVER WAR ON WALL STREET", "body": "DARLING WARNS US OVER WAR ON WALL STREET\nHMI CITY Darling\nTopic CITY\nPublished 24 Jan 2010 - 12:22\nBy Holly Williams, Press Association City Staff\nPage 1: 12:22\nChancellor Alistair Darling has sent out a warning shot to America not to go it alone with bank sector reforms, it was reported today.\nIn an interview with The Sunday Times, Mr Darling cautioned that President Barack Obama's war on Wall Street announced last week\ncould harm international co-ordination.\nHe called for unity among the G20 nations and also said the moves to curb banks would not have prevented the fmancial crisis.\n\"If everyone does their own thing it will achieve absolutely nothing,\" said Mr Darling.\nHe added: \"The banks are global - they are quite capable of organising themselves in such a way that if the regime is difficult in one\ncountry, they will go to another one and that doesn't do anyone any good.\"\nThe US president sent shockwaves through the banking sector on both sides of the Atlantic with last week's announcement of proposals to\nlimit the activities of banks.\nThe plans include a ban on retail banks from using their own money in investments, instead of being limited to investing their customers'\nfunds, and restrictions on banks' abilities to make high-risk trades.\nMr Obama said he was ready for a \"fight\" with the sector over the reforms, which came in the middle of the US bank reporting season\nrevealing bumper profits at many major groups.\nThe Tories were quick to back Mr Obama and accused the UK Government of becoming internationally \"isolated\" over the banking\noverhaul.\nHowever, Mr Darling today stood firm on his opposition to plans that would effectively split retail and investment banks.\n\"You could end up dividing institutions and making them separate legal entities, but that isn't the point,\" he told The Sunday Times.\n\"The point is the connectivity between them in relation to their financial transactions.\"\nHe stressed that failed US investment bank Lehman Brothers did not have retail deposits, but was allowed to go to the wall with disastrous\nconsequences for the global financial system.\nHe said: \"Equally the large-small thing doesn't run - Northern Rock was very small in global terms but systemically it was quite important\nwhen it got into trouble.\"\nThe UK will continue working with the US on banking overhaul plans, but the Chancellor said he would ensure proposals did not\n\"disadvantage London relative to the rest of the world\".\nBut the UK has so far gone out on a limb with its one-off 50% special tax on City bonuses over £25,000.\nThe move has already seen threats from banks to relocate affected staff abroad, while a number of foreign banks - including Credit Suisse\nand reportedly Goldman Sachs - are capping or reducing UK staff pay.\nUS Treasury officials are understood to be arriving in London tomorrow to brief the Government on Mr Obama's radical plans.\nAnd City minister Lord Myners is said to be gathering UK and international officials to discuss solutions to the \"too big to fail\" issue.\nSophie BengerlDigital Infrastructure Desk 1Department for Business, Innovation and Skills"}, {"sender": "Jeffrey Epstein <jeevacation@gmail.com>", "recipients": ["Jes Staley"], "timestamp": "Sunday, January 24 2010 03:01 PM", "subject": "Fwd: Fw: MONITORING PA - DARLING WARNS US OVER WAR ON WALL STREET", "body": "CONFIDENTIAL"}]