Wednesday, October 15, 2008

The law is the law …

In the previous post, I explored the difference between rival regulation philosophies. It this overnight post, I offer you some real-life, practical examples of the "result-based philosophy".

This philosophy used to drive the Bank of England regulatory effort, with the benefit of which, no commercial bank failed for over 200 years. That the regulatory system has failed now is, to a very great measure, the result of the change of ethos.

You will find the post over on EU Referendum 2. Enjoy!