George Osborne put on the spot by departure of Hector Sants - Times Online: "The truth is different. Sants spent his Christmas break contemplating whether to seek another three-year term and seriously considered putting to the board a proposal to remain in his post for at least another year."
Hector was more likely to have been frustrated by the Tory proposals which are being engineered by the same people who brought regulation to its knees, Hector was shocked to discover that I, the man who wanted to 'burn it down', agreed that the plans are seriously flawed and that I believe that we can 'work it out', we as in the financial services industry and the regulator. So, Hector gave up because he was outnumbered by muppets, a great shame and a tremendous loss for UKPLC because we have entered that dark void each and every change of government creates, but as the saying goes it isn't over until the fat lady sings.
The really sad part is that ordinary people like us have some good ideas, a different approach to regulation, a socially useful one, unfortunately money talks.