Response To: Banks to win ground on Vickers plan

DISGRACEFUL & CORRUPT: In effect the ground won is to allow RISKY derivatives to be funded on the back of retail deposits. Derivatives: The use of derivatives to mask credit risk from third parties while protecting derivative counter-parties contributed to the financial crisis of 2008 in the United States. In addition : Derivatives are used by investors for providing leverage (or gearing), such that a small movement in the underlying value can cause a large difference in the value of the derivative. This in effect means the ring fence (firewall) has been broken by a derivative (virus) and will put notable risk within the ring fence should the derivatives turn sour. Consider that USA mortgage backed securities where derivatives, would this not deliver a similar financial disaster? I'm afraid I don't trust this and conider this derivative allowance intolerable, if this goes ahead I recommend people gradually move their money away from UK banks.