Richard Lambert admitted that the business lobby group underestimated the scale of the credit crunch
The CBI chief has warned the UK's policymakers against adopting US-style accounting regulations in the wake of the credit crises.
Speaking at a business leaders' dinner at Cambridge's Queens' College, Richard Lambert admitted that the business lobby group underestimated the scale of the credit crunch. However he added that snap regulation must be avoided. He said the situation called for a calm look at regulation in the financial markets, the Telegraph reported.
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