Brown Told Us Not to Question Banks On Risky Practices, Says City Watchdog [Edition 3]
Evening Standard - London › February 26, 2009
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Summary
GORDON BROWN helped fuel Britain's banking crisis by pressuring City watchdogs into "light-touch regulation", MPs were told today.
In damning evidence to the Treasury select committee, Financial Services Authority chairman Lord Turner said there was clear "political" pressure not to question the business models of banks such as Northern Rock, HBOS and Bradford and Bingley.See the full content of this document
Extract
Brown Told Us Not to Question Banks On Risky Practices, Says City Watchdog [Edition 3]
The phrase "light-touch regulation" was one often used by Mr Brown when chancellor and his then City minister Ed Balls.
Lord Turner also admitt...See the full content of this document
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