A little post to cheer us all up for the weekend. It has been generally accepted that one of the main reasons we are suffering from the economic downturn, is the failure of the financial services authority (FSA) to regulate the banks. Not only did gordon browns baby fail to bring in any meaningful regulations to protect us from the bank collapse in 2008, they also failed to implement the regulations that were already there. Also, the FSAs failure to regulate is a get-out-of-jail-free card for the executives that were guilty of a massive global fraud. If the official government regulator didnt see the problem, how can you blame the banks ?? So, considering how culpable the FSA is in the 2008 credit crunch, what do you think might have happened to those directly involved. Have they been punished for not doing their jobs ? Have they been named and shamed ?? Well, not exactly. Patrick Gillam. Oonagh McDonald. Howard Davies. Micheal Foot. Andrew Crockett. David clement. Carol Sergen Stewart Boyd. Callum McCarthy. Who all worked at the FSA when it was at its most useless (2000 to 2008], have all been rewarded with either knighthoods or CBEs for their services to financial regulation.
Posted on: Fri, 05 Sep 2014 13:55:03 +0000
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