Sunday, July 5, 2009

The Press Association: Darling condemns 'kamikaze' bankers

The Press Association: Darling condemns 'kamikaze' bankers: "He said: 'We need to learn lessons from the financial crisis in which banks behaved in a kamikaze manner and the regulatory system failed."

Who will "learn lessons from the financial crisis"? The regulators? Unlikely, the FSA has been around since 1985, just take a look at the financial services landscape to find out how much has been "learned".

The bankers were never harmed so they were not behaving in a kamikaze manner were they?

Yes the regulatory system failed, what can you do about it when it is bust, not fit for purpose?

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