How much more is more?

 

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From: Simon Mansell

Sent: 18 October 2008 17:56
To: Owen, Evan
Subject: How much more is more?

Evan


How much more is more?

How do they get away with it? The FSA asleep on their watch are to be
rewarded with more staff on higher salaries. In fact the Conservatives
want them to be paid so well they will be on a par with the City Fat
Cats they were supposed to be regulating! This is required says FSA
chairman Lord Turner, to regulate the banks better! The truth is they
have not been regulating the banks at all never mind "better". The issue
is not regulating the banks better it's about regulating the banks in
the first place instead of kicking a soft IFA target.

How much more is more? The regulator already costs us more than £300
million a year. Its costs rose by more than 12% in 2007/08 and the pay
bill for its Directors grew by 22%.

Tell me, could it have been any worse if we didn't have an FSA, for sure
we would have been £300 million better off?

Regards


SIMON MANSELL