Geithner slams UK for light-touch regulation


Timothy Geithner, the US Secretary of the Treasury, on Tuesday criticised the UK's Labour government for encouraging a "light touch" approach to regulation, noting in hindsight that it was a "deeply costly strategy".

Geithner, who was formerly the president of the New York Federal Reserve, told the BBC: "Your colleagues in the UK ran a strategy for a long time called ‘light touch approach to financial regulation' that was designed consciously to pull financial activity from New York and Frankfur

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