We could be underestimating this as speculative activities were largely not present in 1990-91.

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"As long as the housing shortage persists, we have no alternative but to restrict external demand and curb speculative activities, " he said.

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The Vickers plan, based on the Independent Commission on Banking report led by Sir John Vickers, is designed to keep saver and business deposits from being compromised by the more speculative activities typically undertaken by investment banking operations.

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In order to repair this trust, UK policymakers and bankers would rather implement harsher regulatory measures such as the Vickers Plan, designed to keep saver and business deposits from being compromised by the more speculative activities typically undertaken by investment banking operations.

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Banks may be stripped of their proprietary trading activities (that is, the ability of traders to make large speculative bets on financial markets using their bank's money, rather than their clients).

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These activities shift capital into projects that have little or no long-term value, such as speculative real-estate developments in the swamps of Florida.

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