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.
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.
Henry Kravis, the king of rough-and- tumble leveraged buyouts, picked up a phone at his home in Palm Beach, Florida, and called the chief executive officer of one of Spain’s biggest producers of building materials.
The U.K. won’t allow its lenders to be supervised by the European Central Bank, Financial Services Authority Chairman Adair Turner said in a speech designed to boost his candidacy for the top post at the Bank of England.
Financial Services Authority Chairman Adair Turner, a potential candidate to run the Bank of England, said the institution doesn’t need a “God-like” governor as long as its policy committees function properly.