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Kweku Adoboli’s perfect timing

By Tom Streithorst  

UBS headquarters on Liverpool Street, where rogue trader Kweku Adoboli was arrested yesterday

The timing is impeccable. On Monday, the Vickers report recommended that British banks separate their retail side from their trading operations. On Thursday morning, yet another rogue trader, Kweku Adoboli, was arrested after losing £1.2 billion in what was supposed to be the relatively safe Exchange Traded Funds (ETF) market. Let us hope this coincidence hampers’ the banks lobbying to defang the Vickers report.

The most important thing to remember about banks: they don’t lend their…

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