Watching QT. The odius, sanctimonious and clueless Tessa Jowell again trotted out the 'appalling self regulation under Tories that failed' mantra. Listen you fat headed old bat, I have run a financial services business under all regulatory regimes from 1989 and it is not the case, and never was, that self regulation 'failed'. It did not. I grant you that there were a couple of problems with pension transfer sales and endowment mortgages, but the costs and possible losses from these are miniscule when compared to the catastrophic losses created by the failed over regulation since 1997 and specifically from the the coming into law of the Financial Services and Markets Act 2000.
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