tag:blogger.com,1999:blog-4411161795798360588.post642202611831916028..comments2024-03-26T09:38:39.888+00:00Comments on Borthlas: Decisiveness isn't just for othersJohn Dixonhttp://www.blogger.com/profile/07447224248021209852noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4411161795798360588.post-25968896742448814002012-05-26T21:40:02.180+01:002012-05-26T21:40:02.180+01:00The two actions you recommend, I can only support ...The two actions you recommend, I can only support one of them.<br />“Firmer regulation” is not the answer, but being an ultra-conservative you might expect me to say that.<br />The FSA Banking Regulation ran to a thousand pages and RSB never broke one rule or law, H.M Inland Revenue Regs run to eleven thousand pages, but is not efficient.<br />Control regulations are always tied to a Leviathan of an administration, which never catches up with markets or human developments and when you get firmer regulations what gets squeeze out is – human discretion. You get the position that only the written word is correct and you have no authority to intervene in a fast moving crisis, so volume is not the answer.<br />We do need in the Banking sector more financial crimes , as most people are still angry with the “crooks in suits “ that run our banks and MPs for that matter, many of us would have been satisfied if we saw them on TV being led out in handcuffs and ankle chains and crying for their mothers. However, a discussion document by HM Ministry of Justice on what new crimes should be put on the statute has just been watered down ,as the “chaps “ in the city saw themselves been carted off to the clink. This only underlines that all power and governments eventually turn into criminal enterprises, as the Blessed Adam Smith always said.<br />As a member of Blaid I certainly support the introduction of a financial transaction tax – the bigger the better, as it will be a disaster and the pain it will inflict people of Wales will be great, as it will be levied by a very uncompetitive industry, which will only make them richer. That in turn may well move people to seek the end of English rule in Wales and bring our freedom one day closer.Spirit of BMEnoreply@blogger.com