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Article: CHATROOM: Battling Darling turns on Turner.
- Article from:
- Lending Strategy
- Article date:
- October 8, 2009
CopyrightCOPYRIGHT 2009 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Chancellor Alistair Darling used the Confederation of British Industry Scotland annual dinner in Glasgow last month to deliver an icy blast to his chief regulator's unfortunate views on the City of London and the financial services sector's place in the economy.
Referring obliquely to Lord Adair Turner, chairman of the Financial Services Authority, Darling said that in the previous few weeks there had been a lot of talk about the financial sector being too big.
"Some say we should cut it down in size," he told his audience. "To me, that is the wrong approach. We need a balanced economy building on the success of our other industries.
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