"Bob Diamond expressed that the period of remorse for banks needs to end, emphasizing the importance of confidence and risk-taking for economic growth."
"Kier Starmer's government has increasingly embraced the financial sector, recognizing the City as a vital component for accelerating economic growth amidst a challenging economic climate."
"Rachel Reeves indicated that the clean-up after the financial crisis has gone too far, arguing for a reduction in regulation to support business."
"Senior bankers have noticed a shift in sentiment from the government, perceiving a willingness to move past the era of stringent regulations."
Bob Diamond argued in the past that banks should abandon their remorseful stance and focus on confidence and risk-taking to foster economic growth. Recently, Kier Starmer's government has adopted a supportive view of the financial sector, viewing it as crucial for revitalizing the faltering economy. Rachel Reeves echoed this sentiment, suggesting that post-crisis regulations have become overly stringent and need to be relaxed. Senior banking executives perceive a significant change in government attitudes, indicating a readiness to move on from the past constraints and embrace calculated risks for future stability.
Read at www.theguardian.com
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