Britain - RBS Chairman says it was shocking that banks were rescued by the public

Uploaded by BBCNewsHeadlines on Dec 12, 2011
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FSA approach 'was seriously flawed', says chairman Adair Turner

Uploaded by BBCNewsHeadlines on Dec 12, 2011

Royal Bank of Scotland nearly collapsed in 2008 because of poor management decisions, inadequate regulation and a flawed supervisory system, a Financial Services Authority report says.

FSA chairman, Adair Turner said the organisation's approach to the safety and soundness of major banks was "seriously flawed".