From: =?ISO-8859-15?Q?=AEi=A9ardo?= 
Newsgroups: uk.legal uk.finance uk.misc
Subject: Re: Northern Rock awards directors =?ISO-8859-15?Q?=A32_millio?=
 =?ISO-8859-15?Q?n_for_going_bust=2E?=
Date: Thu, 20 Sep 2007 08:57:18 GMT
Bytes: 2451

Escargot Cult wrote:
> In article , 
> john@johnboyle1.demon.co.uk says...
>> The 'deregulation' of Building Societies was a bad move. It inserted a 
>> completely unknown wild card into the management of the economy which 
>> would always take years to surface.
>>
> 
> I enjoyed watching a Tory shadow minister being skewered with this one on 
> the Beeb.
> 
> Interviewer "Surely one of the causes is a failure of regulation in the 
> finance sector."
> 
> Tory "Not at all. The problem is that some people did something they 
> shouldn't have."
> 
> Erm? So that would be a failure of regulation then.
> 
> Effectively. It's not our fault, we just stopped enforcing the rules, we 
> can't be blamed if people then started breaking them.
> 

And how, given that they are not in power, could the Tories have done 
anything about this current failure?

-- 
Moving things in still pictures!