MPs claim FSA misled Select Committee over Iceland - Telegraph: "'Answers from the FSA are unhelpful to the point where we wonder whether they might constitute deliberate obfuscation', MPs on the committee claimed. The public criticism is deeply embarrassing for the FSA."
I think you will find that the FSA has been misleading the Committee, and everyone else for that matter, for years, the worst example was when the CEO misled the MPs two years in a row. He left soon after that last episode.
If the acts or omissions were deliberate that is a crime under the charge of Misconduct in Public Office, if they were due to incompetenec then those responsible should be sacked.
John McFall rightly declared that "Legislation solves nothing", we would contend that the Financial Services and Markets Act which empowers and protects the FSA from prosecution was passed without proper examination. The Bill istelf was declared compatible with Article 6 of the Human Rights Act 1998 by someone who is not a lawyer. We shall see what the High Court says on 8th and 9th July 2009.
"It is hard to imagine a more stupid and more dangerous way of making decisions than by putting those decisions in the hands of people who pay no price for being wrong". Thomas Sowell
Evan Owen
The IFA Defence Union
www.ifadu.co.uk
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