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The editor letter rob
1. The Editor,
Dear Madam,
The subject of bank regulation was mentioned in a Parliamentary Treasury sub-
committee yesterday by Jacob Rees - Mogg, a prominent Tory MP. He is trying to persuade us to
leave The EU. He made the comment that the HSBC bank was thinking of relocating from the UK
because of 'over-regulation' which he blamed on requirements of the EU.
This Bank was recently fined £1.32 by the courts in The USA for helping Mexican Drug Cartels to
launder their Drug money. Would he therefore prefer that there was less regulation - so that they
would not be detected ?
The Conservative Party wanted less regulation before the financial crash of 2007-8 - before they
stated to blame The Labour Government. It appears that their judgement of economic matters is still
completely suspect.
Yours sincerely,
Rob Bygrave