July 31, 2009
So the financial finger-pointing continues.
I think the entire planet is now aware that there was a problem in the banking system which was compounded by a lack of regulation. The entire planet also seems to agree that change is required.
Sorry! Did I say the entire planet? As in everyone? What was I thinking?
It seems that in the UK the Treasury Select Committee does not think that everyone recognises these problems. Click here to read the BBC report about this.
Whatever happens, if there is going to be a real and substantive change in the way the banking and financial systems work, regulators MUST take more responsibility and be more visible in all of the elements of financial markets.
Since the United Kingdom is home to one of the most active elements of the global financial system, it must take a greater role.financialguy