Thursday, Jul 24, 2008
Keeping secrets, telling lies
UK bubble: More post-NRK bad ideas from the FSA
The FSA want to keep us from knowing who its secretly funded. In fact, it is a poorly conceived idea with some seriously perverse incentives.
Posted by inflationwatch @ 06:07 PM (133 views) Add Comment
2 Comments
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1. icarus said...
Very good point made here. If the govt secretly funds an ailing bank to 'maintain confidence' then it is running foul of its own rules about full disclosure that enables investors to make informed decisions. If it pulls the wool over investors' eyes in this way then there are grounds for litigation when/if the bank eventually succumbs to its inherent weaknesses.
2. renting2 said...
So, once they've started a secret bailout, they've got to see it through whaever the cost.