ALEX BRUMMER: Andrew Bailey could have protected Woodford victims
ALEX BRUMMER: New Bank of England boss Andrew Bailey should have acted faster to protect Woodford victims
The failure of City regulator the Financial Conduct Authority (FCA) to fully get to grips with the Woodford scandal and all of those who have profited at the expense of hapless investors is reprehensible.
Ultimately, the person who should have brought an earlier end to the abuse of investors is the FCA chief executive Andrew Bailey.
As the person chosen by the Chancellor Sajid Javid to be the next governor of the Bank of England, Bailey has put himself beyond reproach.
Sleeping watchdog: Andrew Bailey and the FCA should have acted faster to protect savers and cannot escape blame for the savings catastrophe of our age
Few people want to find themselves on the wrong side of the person about to become the most powerful figure in UK finance.
Shameless John McDonnell, who helped drive Labour over an electoral cliff, suggests Bailey’s appointment be put on hold until the Woodford affair has been probed. Having McDonnell against him is the kind…