Five former employees of Bernard L. Madoff on trial accused of taking part in his $17 billion Ponzi scheme sought court permission to show the jury a video of Madoff telling an audience about the “impossibility of committing fraud.”
Central banks may fail to slow a real estate boom by raising interest rates, forcing them to use financial regulations instead to prevent a bubble, former U.K. Financial Services Authority Chairman Adair Turner said.
U.K. Financial Services Authority Chairman Adair Turner said tougher regulations aimed at strengthening the banking system can only reduce the frequency of financial crises and taxpayer-funded bailouts.
Britain risks repeating the debt- fueled binge that led to the credit crisis as the government relies on a hair-of-the-dog remedy for the economy, said former Financial Services Authority Chairman Adair Turner.
Financial Services Authority Chairman Adair Turner gave his first indication that he is interested in succeeding Bank of England Governor Mervyn King as he laid out proposals to reshape London’s finance industry.
Adair Turner , chairman of the U.K. Financial Services Authority, said changes to the financial system must go beyond the symptoms of the credit crisis and address the need for radical structural reform.