British Government Consolidates All Banking Power with Bank of England

news.bbc.co.uk...

The British Government today announced the abolition of the Financial Services Authority (their non Government regulator of the financial services industry in the UK) in favor of putting all regulation in the hands of the Governor of the Bank of England.

In United States terms, they've basically eliminated their version of the SEC and put the whole system in the hands of their version of the Federal Reserve.

Talk about putting the foxes in charge of the Hen House!

The Financial Times is reporting that the Governor of the Bank of England, Mervyn King, will become one of the world's most powerful bankers.

So, we went from "to big to fail" and "needing more regulation" by giving bankers MORE power over their own services?

Glad I left England 20 years ago. I think we've just seen the NWO flexing their muscles again, and it barely got a whisper in the MSM.

Originally posted by babybunnies
news.bbc.co.uk...

The British Government today announced the abolition of the Financial Services Authority (their non Government regulator of the financial services industry in the UK) in favor of putting all regulation in the hands of the Governor of the Bank of England.

In United States terms, they've basically eliminated their version of the SEC and put the whole system in the hands of their version of the Federal Reserve.

Talk about putting the foxes in charge of the Hen House!

The Financial Times is reporting that the Governor of the Bank of England, Mervyn King, will become one of the world's most powerful bankers.

So, we went from "to big to fail" and "needing more regulation" by giving bankers MORE power over their own services?

Glad I left England 20 years ago. I think we've just seen the NWO flexing their muscles again, and it barely got a whisper in the MSM.

The FSA were totally ineffective during its tenure regulating the British financial system. I had dealings with them over legislation for work purposes some years ago and it was widely known then that they had very little influence and indeed were as culpable as the banks for the mess we are in.

I say we should all go bankrupt and start over again. A little extreme, but how long can you go spending money you don't have.