Was Brown behind the FSA 'going easy' ?

[youngmafbog]

Lord Turner , chairman of the FSA admitted yesterday it failed to monitor baks properly but suggested there was government pressure to keep regulations light.

This smacks of Brown knowing exactly what was going on but kept quiet in order to curry favour and of course rake in huge taxes for his social engineering plans.

What are AB'ers view ?

[Quinlad]

I know you love political pont scoring, but you've picked a bad one there.

Even after the banking crisis had blown up, the Conservatives were loudly opposing extra regulation of the City. They were out on a limb.

They eventually clambered aboard that bandwagon later than anyone. Don't you remember that?

[rov1200]

It was obvious to most except the FSA that house price increases could not carry on indefinately and many said so.
The whole reason was greed and there were many Decko's out there to prove it. The government statisticians have a lot to answer for in not controlling the situation.

[youngmafbog]

So why has Lord Turner said it was wrong and the the FSA was not 'fit for purpose' ?

Regulation is always required, that is why the FSA is there.

Oh, and of course FSA staff are getting �21M for this failure. Double standards again from the Government.

[Krypton27]

Yes the main point of all this is that the regulators failed to regulate. The Goodwin pension furore is a red herring- will Brown and Darling pay the price of their failures and forfeit their handsome pensions???
I think not.