Magazine
Latest Issue

The business

John Plender fears that regulatory upheaval at the top of a bull market could spell Howard's End

The big three financial centres-New York, Tokyo and London-are simultaneously confronting what could be the biggest regulatory upheaval since the war. Oh dear. With Wall Street and London looking suspiciously near the end of a long bull market, this may spell global trouble.

The most obvious risks are in Tokyo, where a big bang is being imposed before a banking crisis is resolved. Things are less clear in the US, but the odds on repeal of Glass-Steagall, the anachronistic law which puts a barrier between banking and securities business, are better than for some time. In Britain we have Gordon…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect