Telegraph
"Because back in 2006 the FSR happened to warn, in quite vivid language (for the Bank) of the possibility of a crisis in the financial sector; it warned that British banks could face a major securitisation freeze in the coming years; it pinpointed the growing gap between what they were lending and what they had in deposits; it warned that this could eat into their profits significantly.The FSR came closer than almost anyone else to diagnosing how the crisis would begin. Unfortunately, no-one took much notice."
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