The mortgage mole


l regulated presents It has become commonplace for the Financial Services Authority to be under attack after a series of controversial proposals but few have had the nerve of the Institute of Economic Affairs.

The cheeky think tank sent FSA chairman Adair Turner a book entitled Does Britain Need a Financial Regulator? by Terry Arthur and Phillip Booth. Unfortunately, Mole doesn’t know whether Turner is considering the question. But FSA chief executive Hector Sants fared better as he received a bottle of William Fevre Chablis wine from Alan Yarrow, chairman of the Chartered Institute for Securities and Investment.

With prices for the crisp white ranging from around £30 to hundreds of pounds, Mole thinks the Institute of Economic Affairs may have a point.
l boxing clever Since the credit crunch hit it has been difficult to get a decent return on your money but Peter Gwilliam, owner of Virtus Search, managed to do just that last week, and all in the name of charity.

Gwilliam bought a boxing glove owned by Frank Bruno at a charity auction in Wolverhampton three years ago and last week he donated the same glove to the Broomstick Ball auction to raise money for Cancer Research UK.

Gwilliam paid £280 for the glove originally but last week it sold for the heavyweight sum of £1,000.
The Broomstick Ball is an annual event run by Deirdre McManus and during the past 12 years has raised more than £1m for the cancer charity.
Well done to everyone who donated time and money to such a good cause.