Doomed

[Purple Dalek]

I didn't vote Labour myself, but do you think we would be in a much different situation now if we had had a conservative government for that last 11 years ?

I would say a quite different situation indeed. Even the Americans would be far better off if the City had been regulated by people with a clue rather than political placemen. Even with all the deregulation just the lightest touch by the clued up would have averted much of what has happend.

[foritisme]

So the City would be more regulated with less red tape ??

[DimPrawn]

So the City would be more regulated with less red tape ??

Stick to voting for Brown. He's the sort of person that best represents your intellect.

[Purple Dalek]

So the City would be more regulated with less red tape ??

Most of the red tape is just there to give jobs to the boys. In financial services much of it is just pointless cut'n'paste, why not just refer to standard paragraphs and regulations taking at most a couple of lines, rather than copy them verbatim and fill out 20 sides of A4.

The regulators themselves appear to sit around arguing and trying to expand the boundaries of their fiefdoms rather than doing the job.

So yes, in a counter intuitive way, less red tape could mean more regulation.

[Mich the Tester]

Most of the red tape is just there to give jobs to the boys. In financial services much of it is just pointless cut'n'paste, why not just refer to standard paragraphs and regulations taking at most a couple of lines, rather than copy them verbatim and fill out 20 sides of A4.

The regulators themselves appear to sit around arguing and trying to expand the boundaries of their fiefdoms rather than doing the job.

So yes, in a counter intuitive way, less red tape could mean more regulation.

I agree in a sense.
What’s missing is not regulation, but supervision. Regulation involves lots of procedures and paperwork which can often be used to conceal the truth. Supervision involves the influence of experienced and recognised experts in their field who know how to ask the right questions, find the truth and present it in a way which leads to a more responsible course of action.