Re: Gideon's autumn update : Sat Dec 03, 2011 9:16 am
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DaveO wrote: The idea it was regulatory failing is a joke. You're right (presumably a 'stopped clock' moment). There's no way any regulatory authority could have been expected to see and act against the potential future issues particularly when the actual dubious activity wasn't happening within their country. Only a fool would think otherwise. Of course the same rational applies to the majority of the banking industry who, like the regulators, simply enjoyed the prosperity and didn't ask too many questions. |
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DaveO wrote: The idea it was regulatory failing is a joke. You're right (presumably a 'stopped clock' moment). There's no way any regulatory authority could have been expected to see and act against the potential future issues particularly when the actual dubious activity wasn't happening within their country. Only a fool would think otherwise. Of course the same rational applies to the majority of the banking industry who, like the regulators, simply enjoyed the prosperity and didn't ask too many questions. |
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