Letter: Banking delays

The widespread enthusiasm for the conclusions of the Vickers report on the separation of bank functions (your reports) is moderated by the length of time we have to wait for them to take effect. The separation in the United States following the 1929 crash marked the greatest period of genuine prosperity that the country had ever seen and its removal led directly to a period of false prosperity and genuine widespread misery.

Perhaps if some banks jumped before they were pushed, then the general public could make a choice about where to place their savings and move their accounts accordingly.

STEPHEN SALTER

Blackford Road

Edinburgh