FSA optimistic about economic recovery...

[TimberWolf]

... but tell banks to prepare for levels of joblessness not seen since the Great Depression of the 1930s.

http://business.timesonline.co.uk/to...cle7056674.ece

[suityou01]

... but tell banks to prepare for levels of joblessness not seen since the Great Depression of the 1930s.

http://business.timesonline.co.uk/to...cle7056674.ece

weird. I was just reading an article that said all banks balance sheets should be considered fraudulent and 40% overvalued

[Gonzo]

... but tell banks to prepare for levels of joblessness not seen since the Great Depression of the 1930s.

http://business.timesonline.co.uk/to...cle7056674.ece

An expression involving a stable door and a bolting horse comes to mind.

I can't take anything the FSA says seriously. I am not surprised that it proved to be inadequate because it was the product of Gordon Brown unneccessarily rewriting the regulatory system that worked perfectly well before.

[AtW]

the regulatory system that worked perfectly well before.

Not according to "Yes, Minister" and "Yes, Prime Minister" shows - plenty of corruption in the City shown there

[suityou01]

Not according to "Yes, Minister" and "Yes, Prime Minister" shows - plenty of corruption in the City shown there

Agreed.

Alarmingly the FSA was brought in to provide transparency, and protect investors. Along with legislation such as MIFID

And yet it's never been so corrupt

[Gonzo]

Not according to "Yes, Minister" and "Yes, Prime Minister" shows - plenty of corruption in the City shown there

Dear me AtW, if you knew what you were talking about you would know that the system Brown took apart was established in the mid-eighties, some time after those Yes Minister shows were made.

[AtW]

Dear me AtW, if you knew what you were talking about you would know that the system Brown took apart was established in the mid-eighties, some time after those Yes Minister shows were made.

Yes I know that.

What I also know from watching Yes, Minister is that allegedly the City was also corrupt so much as they got appointed Sir Desmond Glazebrook as Governor as BoE!!!

[Gonzo]

Yes I know that.

What I also know from watching Yes, Minister is that allegedly the City was also corrupt so much as they got appointed Sir Desmond Glazebrook as Governor as BoE!!!

Sigh.

It is true that a lot of stuff that used to go on during the seventies and eighties would not be tolerated now, this was not an issue by the mid-nineties.

[AtW]

It is true that a lot of stuff that used to go on during the seventies and eighties would not be tolerated now, this was not an issue by the mid-nineties.

It seems to me that minor excesses of the City int he 70s and 80s were like "chicken feed" in Boris' language...

[MarillionFan]

Sigh.

It is true that a lot of stuff that used to go on during the seventies and eighties would not be tolerated now, this was not an issue by the mid-nineties.

Gonzo! Are you talking about that Catholic Priest child abuse again? FFS give it up, that priest aint ever gonna marry you!! Cough.