Sants defends tenure at FSA

Sants left the FSA at the end of June, after five years in the role, during which he had to deal with the financial crisis. Interviewed on the BBC's Today programme this morning, Sants was asked how he reflected on his time there, in light of the banking failures, the development of the payment protection insurance (PPI) and LIBOR-fixing scandals and the government's decision to split up the FSA. "The thing that's most important to me is that when you do have a crisis and when events of the magnitude that have occurred occur, that the organisations party to those events then change, a...