President Obama has made his statement about the future of the American Banks. He wants to split the investment banks from retail banks. David Buik, partner from BGC Partners joined me and was very clear with his thoughts. He thinks the bluster in the media is misguided on bonuses and also that Obama’s moves are both unlikely and pursuing the wrong solution. David thinks that solution should come from proper central bank management of country banks, increasing the capitalisation of banks and focussing on fixing the banks rather than scoring political points.
He also thinks that now the dust has settled that banks and shares will probably recover.
I was also joined in the second hour by Ed Mead from Douglas & Gordon and Nick Butterworth from Jackson Stops & Staff. The market for 2010? Difficult but perhaps recovering over time. The election is going to be a big turning point and, of course, what happens to interest rates will be key. If you want more financial information don’t forget to download “Cashpoint” and more property information “Buy It Sell It Rent It” – feel free to download as they are FREE!
I will be back next week for Breakfast on Sunday and more Business & Property on Sunday