Politicians and regulators need to focus on supporting financial services

Rearranging the deck chairs

The reaction of politicians and regulators to the financial crisis has, in the main, been akin to rearranging the deckchairs on the Titanic after it has sunk.

This could be applied to the EU’s ill-fated alternative investment fund managers (AIFM) directive as well as to the latest nonsense from German and French politicians aimed at banning the ‘evil’ concept of shorting, be it sovereign credit default swaps or just ordinary stocks.

The unfortunate decision of the British Conservative/Liberal