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Friends Provident Sell-out?

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These guys are of course simple shysters, unsurprising considering one is a former head of the FSA. I detest them personally but celebrate their freedom to trade within the rules. They are not the problem. The real problem - should this go through - lies with the regulatory framework which allegedly assures taxpayers that their contributions to the likes of Lloyds are in their interests and no others.

As was said on "The Week" recently by Portillo, government just isn't bright enough to deal with these guys.

All we need - instead of pathetic attempts to regulate these guys - is for the government to admit that they can't cope with them and that anyone investing their money in Lloyds - or any financial institution - is swimming with sharks and we should all make our decisions accordingly. Then none of this would happen.

I would say Peston's title is wrong. The question to ask is whether WE have learned anything.

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