ROBERT PESTON SAYS LABOUR’S REGULATORY BANK REGIME IS “UNCLEAR”

ROBERT PESTON SAYS LABOUR’S REGULATORY BANK REGIME IS “UNCLEAR”

IS CULPABILITY BROWN LEARNING ANY LESSONS?

Commenting after Robert Peston’s appearance at the Economy, Energy and Tourism Committee today where he said that the legislative proposals for a new banking regulatory regime are “unclear” about who will now be in charge, SNP committee member Rob Gibson said:

“Mr Peston’s appearance at today’s committee was both welcome an interesting. In particular were his comments about the legislation for a new regulatory regime being ‘unclear’ about who would be in charge of the new regime.

“After all we have learnt about how Gordon Brown’s tripartite regime had failed this is extraordinary. Has Labour learned any lessons from the banking crisis?

“We have a trail of headlines showing Gordon Brown’s culpability and this begs the question of what Labour is now playing at.

“This is also why the committee’s inquiry should have the full co-operation of the UK Government, Financial Services Authority and Bank of England.

“Without a full examination of the banks and the regulatory systems they operated under we cannot get to the bottom of what happened in the industry or focus properly on its future.”