The head of the FSA, UK’s financial watchdog, called bankers “socially useless” at a posh event event in London.
“No one wakes up on a Saturday morning and says I think I’ll go out and buy one of those CDO squareds,” he said, according to the Daily Mail
Apparently, the audience in London wasn’t that pleased with Lord Turner’s performance, however.
Angela Knight, chief executive officer of the British Bankers’ Association said, according to the Daily Mail: “We should leave socially useful issues to the church. I don’t live in the theoretical world, I live in the practical world.”