Banking: Fund Managers

House of Lords written question – answered at on 5 November 2012.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty's Government, further to the Written Answer by Lord Sassoon on 15 October (WA 438), what is their response to the European Commission's assessment of the contribution of fund managers to the cause and extent of the financial crisis.

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury

There is no compelling indication that fund managers played a central role in causing the financial crisis.

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