Wednesday, January 06, 2010

McFall Blames Brown for Lax Regulation

John McFall, the chairman of the Treasury Select Committe, has just caused a minor frisson while giving evidence to the Scottish Parliament Economy Committee. He described the previous system of financial regulation as a "soft touch" and that the "FSA were deficient in prudential regulation".

You could say that was stating the bleedin' obvious, and it is. But it is also a clear jibe at the man who set up the system of financial regulation, one Mr G Brown, soon to be late of this parish.

3 comments:

Dave H said...

To be pedantic he's actually Dr G. Brown. Though by strange irony Mr McFall would describe him up equally well.

Anonymous said...

McFall is a Labour toady who is never critical of Brown even though his loyalty should be to Parliament, not the Labour Party.
A bit late for him to bite the hand....

Colin said...

I'm currently sitting in the BA lounge at Edinburgh airport, looking at a clearly agitated John McFall, pacing the floor around the bar area, mobile stuck to his ear.