Heads should roll at the FSA - Cable

The Liberal Democrat Shadow Chancellor says the Government “should be firing the chair of the FSA, not giving this failed regulator more responsibility”. Cable was responding to the findings today of a Treasury Select Committee report, which concluded the FSA was guilty of ‘systematic failure’ over Northern Rock. Chancellor Alistair Darling this morning said the FSA, not the Bank of England, would be granted extra powers to avert similar chaos should other banks run into trouble. But Cable has hit out at the plans. “It is baffling that the Chancellor now seems intent on giving it [the...