FSA: What a bunch of muppets

This doen\’t look good, does it? The FSA is one of the creditors of MF Global:

The Financial Services Authority is also owed more than £750,000,

However, amusing thought that is I sorta doubt that they were parking their money with the firm or playing on the futures markets. That\’s rather more likely to be the reulatory costs that were outstanding at the time the firm failed.

Happy to be corrected, of course…….this is good though:

However, living up to its name is the Institute of Risk Managers. It is owed £50.

That\’ll be a magazine or membership subscription….

One comment on “FSA: What a bunch of muppets

  1. £750,000 for one smallish firm?

    That sort of money might be acceptable if they were any use as regulators, but since this is just another example of the FSA’s chocolate teapot nature it seems like a hell of a lot of money for doing fuck-all good.

    But that’s regulators for you.

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