Think back, everyone is aware that we have had more than our fair share of major financial catastrophes in the UK - test your memory, remember when these financial institutions created headlines that filled the news and still do?: Equitable Life, Barings, Standard Life, Independent Insurance, Northern Rock, Bradford & Bingley. Then think about how many people were affected by tinkering with personal pensions, the LAUTRO shortfalls, supposedly guaranteed Occupational Pension Scheme benefits and so on.
Are these clear evidence that regulation contains consistent flaws?
The lowest common denominator in all this was regulation. These all happened after regulation, so is regulation the cause, not the solution?
The world's largest financial centre + the world's largest regulator = The world's largest financial black hole
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