Talk:Big Bang (financial markets)

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1991 Czech big bang: see Economy of the Czech Republic --Dominic Sayers 09:11, 17 October 2005 (UTC)

Also see History of post-Soviet Russia, Keynesian economics and Neo-Keynesian Economics: reference to Sovet bloc economic big bang

[edit] Effects?

The paragraph added on 25 April 2007 by anonymous IP 145.221.52.70 is blatantly POV. While the article does need some mention of the effects of the Big Bang, this is not it.

It's true that 'Today, London is a global financial centre, perhaps the world's most important,' but it should be mentioned that London was already a global financial centre. And saying that London 'is home to thousands of international institutions' is a way of putting a positive spin on the fact that London banking has been completely taken over by these international institutions.

One of the major reasons behind the Big Bang reforms was that the once-dominant UK investment banks were falling behind their counterparts elsewhere, especially in the US. Thatcher called this an impending disaster, and convinced everyone that something must be done to make British banking more competitive. While her reforms did dramatically reverse the London financial market's gradual slide toward irrelevancy, they did so by effectively putting the London financial market in the hands of those very US investment banks.

Some Tories like to pretend that this was the plan all along, and that it's a good thing for the UK, even though that blatantly contradicts everything they said 20 years ago. But this is dishonest, and an article written from such a POV does not belong on Wikipedia.

I'll try to fix it, but I don't have any references to hand. --76.203.74.244 (talk) 21:03, 6 January 2008 (UTC)