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Broker Talkback

Do you think the FSA is to blame for the credit crunch?

Yes 50%
No 50%

No “I think Alan Greenspan is more to blame because the problems have more to do with liquidity in the markets. The FSA should have had a better handle on it though.”

Dominic Mussell, Independent Financial Services

Yes “I think they are responsible to a degree. They should have pre-empted the situation sooner than they did. I think the FSA waited too long to step in when the sub-prime crisis occurred.”

Garry Cresswell, Tony Tyler Financial Services

Yes “I have been saying this might happen for a long time. I think the FSA should have put more stringent controls in place.”

Anil Tanna, Anson Insurance Consultants

No “I think globalisation is to blame. When America sneezes, everyone gets a cold. Whether the FSA existed or not would not have made any difference. Northern Rock were too optimistic on their lending strategy.”

Yashwant Patel, Yash Financial Services

Yes “They should have nipped it in the bud earlier. The FSA are to blame, along with the Government and Bank of England.”

Roy Parsaid, Orkin Financial Services.

No “I think there are too many other influences so I don’t think it can be directly attributed to them.”

Darren Smith, Connect Financial Services

No “Most of it is down to irrational market behaviour despite some people becoming wise after the event has happened.”

Paul Duckworth, Paul Duckworth IFA

Yes “The FSA is responsible for keeping an eye on its banking partners and some people will be sitting tight there hoping Mervyn King gets the flak.”

Howard Cook, Talbot Insurance Services

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