Hector Sants

Claire Jones

Andrew Tyrie, the chairman of the Treasury Committee, is concerned that banks are at risk of a severe liquidity drought, and wants “reassurance” from the Bank of England and the Financial Services Authority that they are “examining carefully” what they can do to ensure we don’t get a repeat of the 2008 panic.

His fears of a liquidity shortage are warranted. But he is wrong to target the Bank and the FSA in his letters to Hector Sants, the FSA’s chief executive, and the governor.  Read more