Lord Turner new Chairman of the FSA said there will be more control over banks, than in the past , gorden brown is responsible for the past no one else.

Dan, Nottm, England

Why should the FSA have cared if it faced criticism for doing its job as it saw fit? If Lord Turner's attitude is to excuse past failings he doesn't sound like what is needed. Still, he is willing to pay more than is necessary to his staff so he should fit well with this administration

David, Oxford,

is there any such thing as "accountability" these days or is it just the same old "buck passing" procedure? I wonder if the FSA will be also looking into the knees up that the RBS had according to the press this week costing £150K? Never mind the taxpayer can pick up the cost yet again.....

trudy, burntwood, staffordshire

The FSA's listing authority had responsibility for the Banks rights issue documents in the Summer. One stated that we have sufficient working capital for the next 12 months. 2 weeks later it transpired that bank had to find £155.9bn of funding in the next 12 months. What was the FSA doing?

N Reed, London, UK

The armed forces excepted, the FSA is the only part of this government doing something "on the cheap". Still, it is an admission that the regulatory system set up by Gordon Brown has failed. Tough regulation is not new; before Brown the Bank of England did it successfully for more than 100 years.

TonyG, Newark, UK

What a poor attempt at passing the blame from the head of the organisation most at fault. Whose responsibility was it to ensure something like this didn't happen? "Well, if only you'd given us enough money, we would have done our job properly." Sorry, Lord Turner, this is not good enough.

Archie S, Northampton,

The FSA is a political animal with a reputation as low as a snake's belly, it can go lower unless it is overhauled and the political appointees are replaced by people who know what they are doing, the 740 former BofE regulators missed this lot, what is the point of employing more of the same?

Evan Owen, Harlech, Wales

Highly-paid regulators - taxpayers money has to go somewhere after all. Where there's money there's greed. Doesn't matter who cashes in. Even regulators.

Karin, Nailsea,

As an example of 'too little too late' it's brilliant, at least.

Aldo, Amsterdam,

Too little way too late - the FSA has been completely useless for the past decade. Never mind the banks, it should have clamped down on borrowing on the wholesale markets by building societies, which will become increasingly in trouble as mortgage defaults increase and house prices fall.

Paul, Coventry,

We put politicians into parliament to govern. They want to pig in the trough, so we do not have proper rules of corporate governance. Bankers are greedy: but so are politicians. Brown will not cut govt. spending, will not risk the bureaucrat vote, the things he must do if we are to avoid disaster.

Mike, Exeter, UK