Friday, November 13, 2009

Pull the other one

FSA 'sees lenders as drug dealers'

Matthew Wyles the Chairman of the Council of Mortgage Lenders today accused the Financial Services Authority (FSA) of viewing mortgage lenders as being like "drug dealers at the school gates" and consumers as "wanton children" who did not know what was good for them. Wyles added that through the proposed reforms to the mortgage market the regulator was attempting to wrap customers in cotton wool and make borrowing risk free.

Posted by enuii @ 04:30 PM (824 views)
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4 thoughts on “Pull the other one

  • A return to the old ways is what we need. Well done the FSA if you bring in these rules. Let’s get back to affordable borrowing.

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  • tenyearstogetmymoneyback says:

    Had the FSA come to this view five years ago we wouldn’t be in the mess we are in.

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  • “he said the FSA was at risk of creating “the kind of moral hazard it wishes to avoid”, by making consumers feel they need to take no responsibility for their own decisions.”….LOL! To fooking late sunshine!

    FSA = Should be “Public Enemy No.1” when the public sector cuts hit! The most useless “QUANGO” in British history.

    They were very very quite about banking before the tax payer bailed the “TO BIG TO FAIL” banks out and Who exactly was meant to be watching what those buggers were doing?

    Northern Rock/RBS/HBOS….. Where were those very well paid/skilled regulators then?

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  • Utter nonsense. Mind boggling.

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