Critics want power stripped from the Financial Services Authority Mail Online: "While the Lords said the government should 'carefully consider' whether supervisory powers should be returned to the BoE, they acknowledged the arguments are by no means 'clear-cut'."
No, not at all clear cut.
Would the B of E acted in a way any different from the way the FSA followed HM Treasury instructions to 'go easy on the banks'?
Would the 740 Bank of England regulators have spotted the dead parrot banks whether they were at Canary Wharf of their old haunt in Threadneedle Street?
If the banking supervisory duties are returned to the Bank will the employees also return? If so, who pays for the horrendous cost of reinstating their pensions?
Evan Owen
The IFA Defence Union
www.ifadu.co.uk
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