Strict regulation please - Peter Valentine

One last push is what we need and perhaps an onset of sensible but strict EU financial regulation will be upon us! It must be fairly strong as we in the UK, or at least those in the false economy of the City, are trying their best to water down those long awaited controls!
 
Apparently we should be concerned that many hedge and private equity funds are based in London and if, God forbid, those pampered somethings feel oppressed then they may leave London for some non specified alternative home. Of course if you and I could make a living of £ 1 million a year trading the shadows of real transactions on a spread betting format you might be peeved if some regulators from an area showing financial continence arrived and tried to legitimise their business. But I see no society for the support of murderers, on the grounds that they may leave their current homes and emigrate if we tried to put them out of business!
 
So, perhaps it is an ethical or even a philosophical problem. If a practice has grown up in our society that encourages reckless behaviour that can unravel with spectacular harm to both taxpayers and even national sovereignty, is it not right to forbid such practices or at least insure against adverse results? Or should we be considering the effect on the gamblers and dodgy financial practitioners, who may have to scale down their way of life to live on a comparative level with the rest of the population. And would we be bothered if those dodgy folk actually left the country, I think we might be quire keen to wave them goodbye.
 
And as we consider the losses that the dodgy somethings have, and may again, incur, including the cost of emigrating, who is considering the future of the employees of companies and councils who will be losing millions of jobs out where I live in the real economy. Jobs and companies lost by the reckless nature of the industry now seeking to avoid having a proper rule book forced upon them.