Crosby resigns from FSA

Following Tuesday’s questioning of bank chiefs by a Treasury select committee, Sir James Crosby has resigned as deputy chairman of the Financial Services Authority. His departure follows criticism over his time as chief executive of HBOS. He resigned from HBOS in 2006.  The bank was bailed out by the government and sold to Lloyds last October. The FSA yesterday announced that it raised concerns about the way HBOS was managed as long ago as 2002. Gordon Brown is being questioned today about the government’s bailout.