'Too big to fail' bank rules unveiled

"Heads they won, tails we lost". It sounds like an unfair coin toss. And it's the official view of the big bank bailouts of the financial crisis -- that banks would be the only winners, and taxpayers the losers.

The banks took massive risks and made huge losses. When it looked like they might collapse, politicians were frightened the banks would take the global economy with them. So they said there was no choice but to pour billions of dollars into the banking system to rescue it. Now, new rules have been drawn up with a promise... that in future, taxpayers won't have to prop up reckless banks.

Mark Carney is chairman of the Financial Stability Board which is behind these new rules. He's also the governor of the Bank of England and the man who says taxpayers were on the losing side of that bailout coin toss, and he caught up with our business editor Kamal Ahmed.

But Roger Bootle from Capital Economics tells us he isn't so sure the new rules will do what Mr Carney hopes.