Private company 'Bank of England' regain regulatory powers..

Kris · World Chat Champion Joined: 03 Feb 2002 Karma :

https://news.bbc.co.uk/1/hi/business/10326027.stm

"Chancellor George Osborne is expected to announce later that the Bank of England will be given the key role in regulating the UK financial sector."

So the B.O.E, a private company with vested interests will become the regulatory body and no doubt stop the billions of our bail-out money going to private companies with vested interests...

This is the same George Osborne that attended the Bilderberg conference over two years ago, prior to the financial troubles hitting us all. Gee, how suprising.
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pa_broon74 · World Chat Champion Joined: 28 Mar 2006 Karma :

Sort of in between a rock and a hard place with this though. Its either ran by business or ran by politicians.

Damned either way if you ask me (which you haven't.)

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MarJay · But it's British! Joined: 15 Sep 2003 Karma :

I've never seen any evidence that the Bank of England is actually privately owned.

As far as I can tell (from the small amount of research I've done) It is a 'public institution' so not government as such, but not a private company either.
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ian789 · Crazy Courier Joined: 09 Apr 2010 Karma :

The Bank of England isn't a private company!

pa_broon74 · World Chat Champion Joined: 28 Mar 2006 Karma :

Apparently its classed as a government agency.

It was privately owned up until 1946 at which point it was nationalised. So its wholly owned by the government.

However, government agencies like the DVLA are registered as corporations as far as I know in order so they can trade with other gov agencies and business'

Not sure on the details right enough, I think its to do with statute law and the so called 'protection' and guidelines it offers if a private company or person wishes to enter into any sort of trade with a government agency.

This is why the DVLA are having problems with issuing fines, there is no precedent in statutory law that says they can operate that way. (Banks can on the other had but dress their fines up as admin charges...)

Is how I think it all works.

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