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UK declares new powers to break up banks

Associated Press
UK declares new powers to break up banks

FILE- British Finance Minister George Osborne speaks during a meeting of EU finance ministers in Luxembourg in this file photo daetd Friday, June 22, 2012. Britain’s Chancellor of the Exchequer treasury chief Osborne warned the Britain's banks Monday Feb. 4, 2013, that they could be forcibly split into smaller pieces if they fail to properly insulate their public retail operations from their riskier investment arms, and that the taxpayers shouldn’t be expected to bail out the banks again. (AP Photo/Virginia Mayo, FILE)

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