Brilliant – the concept of bank has been completely lost.

Banks’ crisis of identity leaves depositors in trauma | Financial Times

“A bank is a bank,” he wrote, “and, if the security of its depositors is not its main concern, it should be required to adopt another name.

The article goes on to say “At present – though this is to change – a UK bank is just another company. As such, its primary duty is to its owners.”

Relevance to Bankwatch:

There is much there to think on. A bank cannot be just another company. Alternatively a bank cannot be protected from competition by banking regulations. Banks cannot have it both ways.