Former Conservative Peer
If I may say so, in the FSA we are creating a kind of monster. As has been reiterated many times, it has powers far beyond anything which we have seen before in the financial services industry. Most of the powers of the Bank of England, the Department of Trade and Industry, and other units of enforcement, have been removed and directed to the FSA. When the crisis arises--as it inevitably...
Former Conservative Peer
Entered the House of Lords in 1994
Left the House of Lords on 7 November 2002
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