Tuesday, January 29, 2008
People may lose confidence in financial regulators
High levels of borrowing could land "a significant minority" of people in trouble in 2008, the Financial Services Authority (FSA) has warned. Its Financial Risk Outlook also said that adverse market conditions were putting the business models of some financial institutions under strain. The FSA expects that tighter economic conditions will increase the amount of financial crime being uncovered. It is also worried that people may lose confidence in financial regulators. Too late they already have!