"Former chief of FSA poised to take senior role at Barclays."

Guardian: “Hector Sants, the former chief executive of the Financial Services Authority, is in talks to join embattled Barclays in a senior role barely six months after the leaving the City regulator. His six months’ gardening leave will have ended by the start of January, and Sants made clear when he left the FSA in June – just days before Barclays was hit with a record £290m fine for rigging Libor – that he was hoping to secure another senior role. ….Sants is not thought to be in discussions about taking a seat in the boardroom but would be a senior figure inside the bank, which is also being investigated by the FSA for the disclosures it made at the time it secured funding from Middle Eastern investors during 2008, which helped it avoid a taxpayer bailout.”
JL thought: We will surely never get effective regulation so long as regulators can expect lucrative revolving doors like this.