Fitch blasts FSA's plans to reform home loans - Telegraph: "Fitch, one of the world’s most influential ratings agencies, said that the reforms proposed by the Financial Services Authority (FSA) could result in higher costs and greater inefficiencies in the mortgage market."
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Is it not the case that these 'policy' reforms were actually proposed by Her Majesty's Treasury and handed down to the FSA for implementation?
As is aoften the case teh regulators have to take the flak for the work of teh govrenment which has the evidence that lenders were acting irresponsibly for a relatively short period, before that, and since, the mortgage market in the UK has been the most efficient, the most competitive and diverse in the world. Until some fools decided to import the US system of giving loans to people who could never repay them.
Do the policy makers want the rest of society to pay for the acts or omissions of a few bankers? Have we not paid enough?
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