FT.com / UK - Turner goes to bat for ‘whipping boy’ FSA: "Since the FSA’s creation, the Bank of England has had the responsibility of guarding against systemic risk, but since he became governor Mr King has reduced the number and seniority of staff in the financial stability wing of the Bank."
How can the bank of England guard against anything when it is the Financial Services Authority which holds all the aces and the former BofE staff who regulate banks?
What a shambles!
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