Treasury closes barn door after horse bolts

I note that the Treasury are undertaking a review of its response to the financial crisis.

The review is being led by Sharon White, formerly a Director General at the Ministry of Justice and the Department for International Development.

Its terms of reference include,examining its capability on financial services ahead of the crisis and whether the capability and senior management arrangements put in place to handle the crisis and the aftermath have been adequate.

The review follows recommendations from the Public Accounts Committee and the National Audit Office and the final report will be presented to the Treasury’s executive management board “no later” than Easter 2012.