As a result of the Pecora Commission, public pressure for banking reform greatly intensified.
The forthcoming Banking Reform Bill would bring "far-reaching, lasting change to the structure of British banks", he vowed.
So what's needed now is not simply a fiscal retrenchment, or even a retrenchment along with banking reform.
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The Financial Services Bill is due before the House of Lords and a banking reform White Paper is due out.
The Crash exposed many cases of fraud that led to investigations and passage of the most significant banking reform in American history.
Named Taiwan's vice premier just last week, Lai In-jaw lost no time in declaring that banking reform was one of the new cabinet's priorities.
But he said Lib Dem ministers were making a difference, on banking reform, green jobs and easing the tax burden on the lower paid.
Last year, Allison telegraphed his message in The Financial Crisis and the Free Market Cure: How Destructive Banking Reform is Killing the Economy.
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In return it must raise 13bn euros, largely through banking reform.
But while necessary, banking reform is not, on its own, sufficient.
Now the chancellor has given a speech to persuade you that they will, on the day that his long-awaited banking reform bill is submitted to parliament.
But he was criticised by the finance ministry, bankers and the president for delaying of much-needed banking reform and for giving dubious credits to some banks.
This week's big bill is the Financial Services (Banking Reform) Bill, the measure which is supposed to avert another financial crisis, by enacting the recommendations of the Vickers Report.
On the need for banking reform, Mr Osborne maintained the government's position that ring-fencing retail banking from investment banking was necessary to prevent future government bailouts of failed banks.
They'll say the answer to that is not to change their deficit reduction strategy but to redouble their efforts on things like banking reform, getting credit moving and getting infrastructure built.
However, banking reform is stalled, as are large-scale privatisations.
The two Lloyds executives threw weight behind Chancellor George Osborne's announcement earlier in the day that the forthcoming Banking Reform Bill would "electrify" the ring-fence, as recommended by the banking standards committee.
The Commons meets at 2.30pm on Monday for Work and Pensions questions, then - assuming no ministerial statements or urgent questions - MPs turn to the second reading Financial Services (Banking Reform) Bill.
And to add a bit of spice to the proceedings, the Parliamentary Commission on Banking (the uber-committee investigating the City) will publish a report that very morning entitled Banking Reform: Towards the Right Structure.
In New York, Senator Alfonse D'Amato lost despite a hefty infusion of funds from Wall Street, which wanted him to push through banking reform in his post as chairman of the Senate Banking Committee.
The second is that the Democratic base has become disenchanted with the party's leaders, who have not fulfilled their promises on comprehensive health-care reform, legislation to reduce greenhouse gases, banking reform and myriad other goals.
Banking reform is not sustainable without eradicating deflation: if prices continue to fall, more firms will find it hard to make money and fail to keep up loan repayments, and the vicious cycle will persist unchecked.
In addition to a system of unrestricted convertibility between the dollar and gold, Lehrman also outlines banking reform which would insist that financial institutions reestablish their role as fiduciaries through improved liquidity standards using fair market valuation and quarterly stress tests.
In South Korea, because of the fragility of its political institutions, because it too has delayed banking reform but most of all because unlike in Japan and South-East Asia the rot in Korea is not confined to finance but extends across many of the country's biggest industrial conglomerates (see article).
By contrast, in the UK it is Treasury policy to be less willing to bail out banks in those ghastly circumstances (the whole point of the Treasury's recent white paper on banking reform is to restructure banking so that in future crises more of the losses will fall on creditors and less on taxpayers).
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Privatization and banking system reform, therefore, must go together.
With banking and financial reform, our polling shows that the risk falls entirely on those in Congress who oppose stronger regulations and consumer protections.
In 1994, China launched the "Golden Projects, " designed among other things to reform banking and financial sectors, and state-owned enterprises, and improve tax and customs enforcement.
That would leave much to do, especially to unleash growth and to reform the banking system.
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We will need to stabilize, repair and reform our banking system and get credit flowing again to families and businesses.
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