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Should the FSA publish banking crisis report?

MPs from every area of the UK political scene are today calling upon the FSA (Financial Services Authority) to publish its report into the UK banking crisis which details exactly what went wrong. So far the FSA has been unwilling to publish the report which contains comments and reviews from experts in the field of finance and is rumoured to be far reaching and very detailed. But should the FSA been forced to publish its banking crisis report?

The problem with publishing the report into the UK banking crisis is the fact it will pinpoint problems and issues within the system and it could lead to further weaknesses in the industry. However, as we approach the next general election it may also place more pressure on the UK government and UK regulators and could open a can of worms.

It will be interesting to see whether the FSA gives in to the pressure from the political scene or retains its long-term policy of no comment on individual institutions. It is believed that Royal Bank of Scotland, HBOS and Bradford & Bingley are central to the report into the crisis with a number of recommendations and observations forthcoming. However, does this veil of secrecy actually help the UK financial sector?

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