'No more taxpayer bailouts for banks'
- Published: 10 Dec 2012 at 19.46
- Online news: News
British and US banking regulators proposed on Monday a joint strategy to ensure that the bankruptcy of big banks won't spark a chain reaction of contagion throughout markets.
A sign from the failed bank Lehman Brothers is hauled into Christie's in London for auction.
The two bodies, acting on behalf of the two largest financial centres in the world, stressed that under the proposals, shareholders and not taxpayers would bear the full costs, and top managers would be sacked.
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