[Ignitionnet]

We will indeed, I don't regard the two as being related in this instance.

The practice itself is unscrupulous however one would assume the Treasury are taking an interest in it given this report, and one would imagine to not act would be political suicide.

Cameron is a whore to the City, like most politicians, but he's also a politician so more than capable of showing a face to each side.

It seems to me to be a gross simplification of things to suggest that Cameron refusing to sign the fiscal compact was to preserve all the bad things the City does, and that European regulation would be some sort of panacea to a fairer world. As I noted above in some regards the UK's regulation of its financial services is actually potentially obstructed by European regulation.

The City is pretty ill, London is a financial cess pit in dire need of a complete redesign of regulatory structure so that it actually has one but one dictated from the place that can't even make farmers keep chickens humanely given 10 years notice doesn't seem appropriate.

Regardless it doesn't matter, I seriously doubt that the fees the City is ripping people off with for pension fund management were a specific sticking point, and if Cameron does fail to act all the money in London won't buy him the next election.