Summary
BE AFRAID. Be very afraid. After benevolently standing by while a vast speculative bubble overwhelmed the City, the Financial Services Authority yesterday warned it has learned the error of its 'lighttouch' ways.
Vowing to be more 'intrusive' and 'direct', the regulator's chief executive Hector Sants struck a deliberately menacing note in a Canary Wharf speech, declaring: 'People should be very frightened of the FSA.' This marked change of tone is being echoed across the world.See the full content of this document
Extract
Watchdogs Get Their Claws Out As Banks Quake ; Road to The
Faced with the deepest global downturn since the Great Depression, politicians are desperate to prove to their electorates that they will not let feckless bankers get away with it aga...
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