RBS report: FSA attention 'diverted by RDR' during crisis

Poor dabs

Ah, well thanks for explaining how very busy you all are, no wonder you went through so many buscuits. You must be all so very tired. Never mind, lets all forget it and move on. After all, it's not as if it resulted in the near meltdown of the banking system in the UK is it.

Posted by: last post

FSA diverted by RDR.

What a load of tosh. The FSA were more concerned with railroading RDR on to IFA,s than looking at banks. Same old story. I must remember this excuse when they find something to have a go at. Sorry I was more concerned about the results of the X factor or Strictly come Dancing. I wonder how far I would get.

Posted by: terry

All OUR fault

So there you are. Now you know It was all the fault of those nasty IFAs for objecting to the RDR when we were so determined to foist it upon them come what may. We simply HAD to concentrate on this useless and unnecessary piece of venom because it was our little baby and we thought that the banks would be OK because they are all wonderful honest nice people. (Unlike those nasty little IFAs. But not to worry -- it will not happen again - soon we will have dessimated the IFAs completely so they won't be a problem any more and we can then just keep an eye on those lovely friendly banks.

Posted by: Grosvenor

IDNBI

So now the FSA uses TCF and RDR as an XQs for RBS to BGR up the GB economy!! Thats OK, its my fault then.

Posted by: Tony

FSA attention 'diverted', or the leader not up to the job?

This report could not have been issued without the approval of the CEO, Hector Sants who must therefore have accepted the events and the sequence described. Now, the essence of good leadership, Hector, is NOT to complain about your staff as it is the leader who sets the strategy and priorities, and should accept responsibility for the outcome. You don't hear an army general bleating about the poor quality of his soldiers - particularly if they can't answer back because he sent them into battle and got a lot of them killed. The fact that he does not know or accept this principal just shows what a hopeless duffer he is at managing a large organisation. If fact, I have rarely hear such a load of sanctimonious, hypocritical, blaming-of-others tosh; by inference, an utterly cowardly ducking of personal responsibility. Sants is not up to the job. It appears now from this report of events going back years that he has never been up to the job, and has failed dismally to point the whole cumbersome, expensive, ineffective, organisation that he is responsible for in the right direction, and now the cracks are showing more and more with each passing day. The man should go before he does more harm to the country.

Posted by: Orlando Furioso

Everybody knew

that the Regulation Management was deficient, for the industry was screaming it out, to no avail from 1986, for with the claim that only the best in the old boys network were employed and there were gongs to be achieve, the banks Treasury and Parliament were secure, for there existed a easy target for all that was wrong in the industry i.e. the IFA became the target of adverse public opinion. On many occassion over a long period I have written of the dangers to the City of London,resulting from the blind rush to european integration, which gave the FSA another excuse for failure at the expense of the public. What was the claim of the executive that the FSA funded the highest employment package in order to attract the best in industry. while at the same time being distracted by the commission war and RDR to favour their friends at the Banks and treasury. Therefore why has none of the best in industry been fired, with or without a very golden pension and goodbye.Is dismissal only achieved by promotion and as such promots failure. The fault must therefore rest with the media and parliament the protectors of democracy.

Posted by: M J Winfield

Awww never mind

Soon the IFA's will be gone and there will be no excuses left...but by then Hector and his pals will have their noses in the trough of a nice executive position in a bank boardroom. The whole system is corrupt and F*****!

Posted by: Paul Burnside

What's good for the goose......

I wonder how much the FSA will get fined for their little indiscretion? Not too much I hope, since the IFA communitiy will have to pick up the tab anyway.

Posted by: Richard

Golden Stuff

Someone else mentioned the golden leavers present Hector may get for leaving. Personally I wouldn't even give him my golden stuff now if he was on fire. Posted under my own name as I really have had enough of the F- pack and more of us need to be telling Hector and his mates.

Posted by: Phil Castle