Chancellor Alistair Darling could strip the Bank of England\"\" of key powers amid a spat with governor Mervyn King.

The Financial Services Authority (FSA) is reportedly set to be given responsibility for maintaining \”financial stability\” as part of regulation reforms.

You don\’t want to be giving the box tickers at the FSA more powers, you want to return powers to the Bank of England.

Still, that\’s what you get when you let a lawyer loose on the economy.

3 thoughts on “Twat”

  1. Giving the Bank of England more powers?

    But hasn’t our lax regulatory regime already put us in enough shit? Why do you want to bring back an economic model that has failed?

    Does the LPUK really hate the public so much?

    Tim adds: What on earth makes you think I’m associated with the LPUK?

  2. The problems stem from BASEL2.

    No longer is credit in the economy restricted. This would have worked with competing currencies but currencies are generally run as a cartel with a local monopoly (i.e. a commons).

    What’s needed is for BASEL2 to be repealed and the central bank to decide on the amount of credit in the economy and for banks to allocate it.

Leave a Reply

Your email address will not be published. Required fields are marked *