There is a limit, of course, to how far the U.S. can reach in imposing its notions of clean banking on the rest of the world.
There should be a stronger partnership with business which, in a world of heightened risk, needs avoidable uncertainty removed not least the stable environment that comes from a clean banking system operating to global standards.
A better approach would be to acquire failing banks, give them the cash they need, put their toxic assets in storage and then sell the "clean" banks at auction.
Lloyds' chief executive, António Horta-Osório, has promised TSB will be a "real challenger on the high street", describing it as a completely clean bank, untainted by the crisis that almost overwhelmed the financial sector.
Lloyds' chief executive, António Horta-Osório, has promised TSB will be a "real challenger on the high street", describing it as a completely clean bank, untainted by the financial crisis.
It gave the banks a false confidence that they had suddenly become clean banks, and that they could count on another rescue operation if their bad loans piled up again.Unlike in the United States and elsewhere, there is no deposit insurance system in China.
"You can't make a clean bank.
Mr Horta-Osorio stressed that TSB, which will be launched on Monday, was a "completely clean bank".
These economists think that zombie banks aren't going to suddenly turn into good banks and that a more effective idea is to capitalize and license new clean banks.
Mr Horta-Osorio stressed that TSB, which will be launched on Monday, was a "completely clean bank" having no legacy issues - such as a huge bill from PPI compensation - and had the same protection for savers as other High Street banks.
Yet in all these instances, action was, on the whole, fairly swiftly taken to write off bad debts, clean up banking systems and restore economies to growth.
