This Times leader is a good example:
The Financial Services Authority gets full marks for frankness, but nothing else. The regulator of the banking industry is there to safeguard the interests of customers and the integrity of the financial system. For all its boast of light-touch regulation in principle, the FSA appears to have taken a lackadaisical approach in practice. The findings of its internal inquiry into the demise of Northern Rock could not be any more damaging to public confidence. It is not so much that the FSA took its eye off the ball; the financial referee was only occasionally at the game.And so it goes on without mentioning the people who are really to blame. Why is no one talking about Northern Rock's directors?
It was they who devised and implemented the strategy that ran the organisation into the ground and has potentially cost taxpayers billions of pounds.
If at any point you had queried the large salaries paid to those directors you would have been told that they were justified by the huge responsibilities they bore. Yet now things have gone wrong they are being treated almost as victims of the FSA.
They are like spoilt teenagers who demand to be allowed to stay out all night, get into trouble and then say to their parents: "You should have stopped me doing it. I'm only a teenager."
Why don't we treat the directors as adults and blame them for their appalling conduct of the business?