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[albitz]

There isnt really an answer to that question imo zulu,the only hope we have is to get back to being governed by people who are educated but have lived in the real world,and have the intelligence and backbone to do the right thing for the country.

[Nickbat]

I am not suggesting for one moment that regulation is not required. Of course it is. Unfortunately, over the last few decades, we have bred a whole new breed pf career politicians who don't actually understand market mechanisms (or real life, away from Parliament) and are unqualified to establish appropriate regulation. That's why we get the daft laws to which Baroness Scotland has become (rightfully, it would appear) a victim. Hoist by her own petard, it would seem.

Of course, this applies not just to the UK. The EU is full of career bureaucrats who know sod-all about industry. The private sector is much more nimble than the lumbering public sector, so it needs a correspondingly agile set of regulators: people who understand the markets and can regulate in an effective, but not stifling, way.    

....agreed for the most part but the problem will always be - who chooses the Regulator and who then regulates that Regulator?

Of course you've made good point Zulu. The problem I have is that, looking around the Commons, we have a very youthful  contingent that have never done a day's work in their life (OK, maybe that's a bit harsh, but you get my drift). When they get elevated to ministerial positions, they are then advised by youthful civil servants who have never done a day's work in their lives (OK maybe that's a bit harsh, but you get my drift). 

What I expect to see in regulators, and I use the term generically to describe politicians and the civil service are those with a proven track record in their area of responsibility. Is that too much to ask?

It would appear so. 

[Nickbat]

Albs just said what I said in far less words. I am just too gobby for my own good. 

[Vamps]

Albs just said what I said in far less words. I am just too gobby for my own good.

I hadn't noticed......

[albitz]

Nah,Im just much less articulate than you tbh Nick.And itsusually me who takes 200 words to say what 20 properly chosen ones could have said.

[Field Marshal Dr. Opti]

Good............it seems that we all agree that there needs to be some sort of regulation.
In 1997...........Blair and Brown.....was keen to let the markets know that they had had nothing to fear from New Labour...(Or should that be Blue Labour)....that they were the friend of big business.
I personally think that they allowed the City too much free rein.....Others will think that there was still too much red tape.
It appears that unfettered capitalism has failed...and we are all going to have to pay higher taxes for many years to pay for it............I'am certainly not an old fasioned socialist........I 'am too long in the tooth for that.........so I will quote you Will Durant...."There is nothing to socialism that a little age or a little money will not cure."..
Goodnight all.

[Dishevelled Den]

I wasn't expecting an answer to the question of course; I don't think there's one to hand at the moment.

Coming from the old school teachings of how the State expects its citizens and institutions to behave, I find it difficult to adjust to the 'light touch' form of such control that seems necessary today.  Then, if you stepped out of line your feet didn't touch and when the word was issued, it carried as much weight as though from the Lord God.

That is until I realise how so much more complex things in general are today.  Of course in my time you had to be bloody good to achieve any position of authority in the darker realms of the State and the General Civil Service was staffed by educated, dedicated and motivated personnel, professionally managed.

There'll have to be a sea change in attitude of how the general establishment is chosen, administered and maintained if there is to be any hope of a professional Civil Service and, by extension, a professional cadre of individuals available to take charge of the institutions of which we muse.

[x.ray]

sorry all been off line filling in my tax returns.
in answer to your question nickbatt.
the private sector.
i have no wish or desire to offend anyone.
just occassionally put a different perspective.
if anyone one the forum has been upset or offended by my comments then i appologise unreservedly.
as for sixth form marxsism
now whos trying to offend?
to be honest i wish i was even near sixth form