BoE bad, FSA good? Me thinks not.

He was stating that the tripartite system is better and quoted that Barings and BCCI went under using the old regulations enforced by the Bank of England.

Well, excuse me, but those very small banks went under without threatening the integrity of the entire system. They didn't cause a recession. How is it that the FSA's lack of keeping an eye on Northern Rock, HBOS, RBS & Bradford & Bingley leading to massive bailouts is better than the failure of BCCI and Barings overseen by the BoE?

Delusional. Again.

Squiffy.