Hector Sants' resignation shouldn't really come as a surprise - even turkeys don't vote for Christmas.
No doubt he has been trying to work out his future ever since the Conservatives launching an early salvo in their election campaign last year by suggesting they would abolish the FSA. In private the Conservatives now understand that abolishing the FSA wouldn't achieve very much unless they had a cast iron replacement in mind already. They don't - and even if they did where is the most experienced pool of staff to run a financial services regulator? Yes, at the FSA itself. Imagine the bad publicity early into a new Conservative Government - they make all the FSA staff redundant and ...
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