Times letter on “casino banking” (unfair to casinos)
published 3 July 2012 in the Times of London
The term “casino banking” is very unfair to Britain’s casinos. They are much better managed and regulated than Britain’s banks. Their operators and staff have to meet stricter standards of character and conduct than bank traders, and they need a precise understanding of the risks they face, otherwise they go out of business. If Britain’s banks were compelled to include casino managers [and indeed bookmakers, deleted by Times] among their executives they would be much better run.