Time to cull these elephant banks

We need smaller banks that are not ‘too big to fail’, writes Brian Lucey

WE need to take a close look at the Government’s plan to create two pillar banks. While this will make the job of regulating them easier, it is also clear that it runs grave dangers.

We have seen how regulators in many, many areas are easily captured. With few exceptions, and regardless of their nominal power, regulators are toothless.