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<oembed><version>1.0</version><provider_name>naked capitalism</provider_name><provider_url>https://www.nakedcapitalism.com</provider_url><author_name>Yves Smith</author_name><author_url>https://www.nakedcapitalism.com/author/yves-smith</author_url><title>Ian Fraser: UK Bank Regulator, FSA, Protects Powerful Cronies and Undermines Proper Bank Reform | naked capitalism</title><type>rich</type><width>600</width><height>338</height><html>&lt;blockquote class="wp-embedded-content" data-secret="nKxyeZWMXf"&gt;&lt;a href="https://www.nakedcapitalism.com/2012/09/ian-fraser-uk-bank-regulator-fsa-protects-powerful-cronies-and-undermines-proper-bank-reform.html"&gt;Ian Fraser: UK Bank Regulator, FSA, Protects Powerful Cronies and Undermines Proper Bank Reform&lt;/a&gt;&lt;/blockquote&gt;&lt;iframe sandbox="allow-scripts" security="restricted" src="https://www.nakedcapitalism.com/2012/09/ian-fraser-uk-bank-regulator-fsa-protects-powerful-cronies-and-undermines-proper-bank-reform.html/embed#?secret=nKxyeZWMXf" width="600" height="338" title="&#x201C;Ian Fraser: UK Bank Regulator, FSA, Protects Powerful Cronies and Undermines Proper Bank Reform&#x201D; &#x2014; naked capitalism" data-secret="nKxyeZWMXf" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"&gt;&lt;/iframe&gt;&lt;script type="text/javascript"&gt;
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</html><description>By Ian Fraser, a financial journalist who blogs at his web site and at qfinance. His Twitter is @ian_fraser.   The UK's failed regulator, the Financial Services Authority, is up to its old tricks again. Last week, it sought to scapegoat just one of the 16 directors who drove the awesomely badly managed British bank Halifax Bank of Scotland into the ground. And all he received was a &#xA3;500,000 fine and a lifetime ban from working in the financial sector.</description><thumbnail_url>http://www.ianfraser.org/wp-content/uploads/2012/09/FSA-Lord-Turner.jpg</thumbnail_url></oembed>

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