Our regulators are too close to those they should be regulating – and this is a problem
عداد 30 ثانية 30 التالي Our regulators are too close to those they should be regulating – and this is a problem © Provided by City AM © Provided by City AM The Monetary Policy Committee of the Bank of England underestimated inflation. (Photo by Dan Kitwood/Getty Images) Political parties of all colours have been lauding our regulators as “world class”. Unfortunately, our regulatory bodies actually have a quite problematic record of failures, writes Paul Ormerod Late last week, news slipped out that the Treasury had asked Parliament to authorise up to £200bn to cover losses from the Bank of England’s quantitative easing (QE) scheme. To help the economy get over the financial crisis of the late 2000s, the government agreed to cover any losses the Bank made on bonds bought as part of the QE programme. The huge potential losses essentially arose because of the dramatic rise in interest rates from the near-zero levels which prevailed for years – until rece...