Quis Custodiet Ipsos Bustodes? Banks, Banking And The RBS Debacle

[Philtaz]

What a shambles. No wonder we're paying for others mistakes and greed.

http://www.bbc.co.uk/news/business-16126399

[Philtaz]

No idea how a 'B' got in at the head of what was supposed to Custodes.....!

[sp1814]

Okay - I'll hold up my hand - what the jiggings does Latin bit mean?

[bulliver]

http://en.wikipedia.o...iet_ipsos_custodes%3F

[sp1814]

Forget it - just Googled it.

Who guards the guards? Ultimately, we need to reintroduce oversight and governance and (shock horror) a more robust form of regulation. I can't see that happening for a very long time.

[sandyRoe]

Who will guard the guards?
The Tories still seem to think that regulation in this area is unnecessary.

[Gromit]

It is hardly news that the FSA was not fit for purpose. And the BoE screwed up massively as well.

Luckily for them, they are not allowed to fail and will be bailed out by the taxpayer. Meanwhile in Iceland, where the Government didn't bailout its banks and let 3 go bust, the result wasn't the end of the world. In some respects, Iceland is bouncing back quite well.

[EDDIE51]

The problem always has been and always will be that the FSA can not pay enough to get the top financial analysts. The best , brightest ,cleverest financial ' brains' can earn so much that they would never work for the FSA as they would take a massive cut in salary / bonus payments.
The 'wheeler dealers' will always be 2 or 3 steps ahead of the FSA.