http://thisismoney.co.uk/money/comment/article-2512052/RUTH-SUNDERLAND-Floats-coming-fashion.html
What happens in bank collapses is that probes are announced, which makes it look as though dramatic action is being taken. But then the various inquiries queue up behind one another, like aircraft in a holding pattern, with regulators claiming they are not able to start until someone else has finished.
And so it takes aeons before any directors, regulators or politicians are castigated, if ever.
maxwellisation - the process by which people criticised are given a chance to answer back
All sorts of legalistic reasons are put forward to justify why these inquiries take such an unconscionable length of time. But do they really have to take so long? After all, the British Parliamentary banking commission managed to produce its conclusion, that HBOS involved 'catastrophic failures of management, governance and regulatory oversight' rather more quickly.
Where there is a will to drive investigation and punishment, it does not need to take years, as US regulator Benjamin Lawsky demonstrated with Standard Chartered over its sanctions-busting.
Who benefits from these long-winded inquiries? Not small shareholders or customers.
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