tag:blogger.com,1999:blog-2948538160252327076.post4055027070293854456..comments2023-11-02T15:48:50.381+00:00Comments on UK Bubble UK Economy: The FSA - technically capable, but politically weakAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2948538160252327076.post-58889768695901722122009-04-20T22:46:00.000+01:002009-04-20T22:46:00.000+01:00Regulation does not prevent financial crises becau...Regulation does not prevent financial crises because it is not politically expedient to stop the party. If they stop the party before the party peters out on its own then they will have their powers removed because everyone loves the party. Same goes for politicians. Anyone who expects either politicians or regulators to do this is deluding themselves.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-72005466366728359622009-04-18T18:22:00.000+01:002009-04-18T18:22:00.000+01:00Your comment is probably closer to the truth Nick....Your comment is probably closer to the truth Nick.<br /><br />I have friends at the FSA and their complaint for years has been that they know what's going on and who's doing it but they get no political back up to do anything about itRickhttp://flipchartfairytales.wordpress.com/noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-28424882928625207092009-04-18T14:54:00.000+01:002009-04-18T14:54:00.000+01:00the FSA knew what was happening but failed to do a...<I>the FSA knew what was happening but failed to do anything about it</I>this is absolutely correct - any competent risk manager always knows the score<br /><br />everything hinges on what they are then encouraged and permitted to do about it<br /><br />senior management sets the tone - in the banks it was various knighted bullies, at the FSA level it was G.Brown<br /><br />restating: <I>the FSA knew what was happening but were <B>not empowered</B> to do anything about it</I>Nick Drewhttps://www.blogger.com/profile/13670594203660051701noreply@blogger.com