Summary
IT is sometimes said the people who do not panic in a crisis are those who have not quite grasped what is going on. Attending the annual Building Societies Association conference in Manchester these past two days, one could not help notice the tone was distinctly upbeat. Could these really be the people whose demise has been predicted every year for the past decade?
Has no one told them that, like the dinosaur, they are supposed to be unsuited to the modern world and heading for extinction? Well, if dinosaurs were indeed killed off by a meteor that hit the earth so hard it changed the climate, the societies are about to learn what it feels like because their world is soon to collide with a meteor in the form of the Financial Services Authority.See the full content of this document
Extract
The Societies' Survival Chance ; City Comment
The FSA takes on mortgage regulation from this autumn, and insurance with which societies are also closely entwined from next spring.
FSA chief executive John Tiner yesterday spelled out to them ...See the full content of this document
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