Little will change when Sants takes up his role at Bank
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I was delighted by the news that the FSA is to be scrapped and its chief executive Hector Sants is to go to the Bank of England, but with Sants still running the show why does anyone think things will change?
I suspect Sants won’t be the last person at the FSA to get a nice new job, probably with a pay rise.
The system needs tougher regulation at the top and sensible control at the consumer-facing end but my bet is that we’ll get neither.
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