Worsfold's Wisdom: The opportunity left by Sants' exit

With a relatively new chairman in Lord Turner and now a new chief executive in the offing there will be little temptation on anyone's part to defend the regulatory status quo regardless of who wins the forthcoming General Election. Few people will mourn Sants' departure. For many he will be tainted with being asleep on watch as banks collapsed around him, starting with the unedifying sight of people having to queue in the streets for hours to take out their money from Northern Rock and continuing with the failure to spot that risk management was failing catastrophically in parts of th...