Loans and Finance

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Thursday, February 12, 2009

A Failure of Regulation

The Times reports that the Financial Services Authority (FSA) claims that it raised concerns about internal risk controls at HBOS in 2002.

Yet nothing appears to have been done, why?

Moreover, why was Sir James Crosby (who has now resigned from the FSA), CEO of HBOS between 2001 and 2006, appointed deputy chairman of the FSA by Gordon Brown?

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