Pendulum swings FSA's way.

Financial Adviser, January, 2008

Byline: Darling's proposals to give the FSA new powers to intervene in a crisis amounts to 'a reprimand' for Mervyn King

Four shareholder proposals, four months of uncertainty and three key players - the Treasury, the Bank of England and the FSA, two bidders and do not forget - one British economy.

Despite certain industry commentators dubbing the Northern Rock debacle as a one-off, doing the arithmetic behind the scenes is becoming increasingly difficult.

Last week's meeting with shareholders and the Chancellor Alistair Darling's earlier proposals to anoint the FSA with greater powers to avoid a similar crisis, may be making headlines, but a solution to the crisis seems no closer than it was four months ago. The shareholder meeting held...

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