tag:blogger.com,1999:blog-6385595.post4505941430992397486..comments2023-10-10T11:50:55.402+00:00Comments on Marcus Wood: Unknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6385595.post-74775554752623853672007-09-16T15:57:00.000+00:002007-09-16T15:57:00.000+00:00Yes but who was responsible for establishing the F...Yes but who was responsible for establishing the FSA anyway?<BR/><BR/>Gordon Brown was warned that his proposal for a single regulator for savings, investments and banking ran the risk of having too many conflicts of interest and not being specialist enough to stay ahead of the complicated derivatives and instruments that banks use these days.<BR/><BR/>He didn't listen and this is the result.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6385595.post-26045136636632002712007-09-16T15:55:00.000+00:002007-09-16T15:55:00.000+00:00The FSA have failed in their prime task, maintaini...The FSA have failed in their prime task, maintaining confidence in our financial institutions.<BR/><BR/>After BCCI and Barings; then Standard Life and now Northern Rock it's obvious the regulatory authority is not fit for purpose.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6385595.post-64827379524506332642007-09-16T15:43:00.000+00:002007-09-16T15:43:00.000+00:00This could go either way for Gordon Brown, on the ...This could go either way for Gordon Brown, on the one hand he could be seen by voters as a safe haven in a storm and on the other he could take the blame for encouraging a boom all of his own.<BR/><BR/>In my opinion although this banking crisis is not actually his fault it has the potential to damage his credibility - the one message that New Labour have succeeded in delivering is that the economy - once the undoing of every previous Labour administration- was safe in their hands.Anonymousnoreply@blogger.com