Financial Services Authority (UK)
Originally set up too late to protect the public from financial scandals, it now exists to gradually corode financial services in the UK. The favoured mechanism is by writing nonsensical rule books that go round in circles in the language of a 17th century lawlord on steroids. Also, rules that are "Principal Based" so that they can catch you out on anything they haven't written an actual rule for (yet). The FSA is the chocolate beard in the otherwise pristine washroom of British Financial Services. It will take UK Financial Services down the same road as our car industry has gone - India and China.
"Have we got enough money money for our Chrismas Party Tarquin"
"Oh yes - but we'll fine a few more firms first, so we can each go in a new Porsche and flush our wee-wees away with Champagne"
FSA - Financial Strangulation Authority
Prices shown in USD.
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