Lord Turner's FSA review asks the wrong people the wrong questions - Telegraph#postacomment&postingId=5753073: "the Treasury Select Committee should set up a committee of knowledgeable people (untainted by recent events) with a brief to look at the Turner Review, and to make recommendations to the Treasury Select Committee"
Are there any knowledgeable people (untainted by recent events)?
The regulations were, and are, the problem, too many gaps, too old a concept, to biased a system.
What Tony forgets is that 100% of the board of the FSA is appointed by HM Treasury, the system itself, from the top down, has failed. Regulation run by politicians is bust.