[Traduk]

The article represents little more than a totally false linkage between just one of the many parasitic methods the finance industry has used for decades to enrich its participants at the expense of the public, with the more complicated global financial issues currently engulfing the world.

Top slicing and handling\management fees are rife within various factions of the finance industry and often start, for private individuals, when a financial advisor, insurance broker or bank uses their supposed expertise to help said individual to select a suitable package with frequently the pocket of the advisor served first. Once in the financial food chain, bites are taken out of the cash up through every strata. It has been this way for decades and without doubt is a self serving gravy train that should have been dealt with decades ago.

I find it incomprehensible that the linkage has been associated with the City and the government's actions reference Europe as the two are linked only by association which often is little more the geographic location.

The area of finance under attack from Europe is specific and is via the proposed transaction tax and falls into international traded instruments and most specifically Forex.

Pension funds have a specific remit which constrains their activities into shares, bonds, properties etc which falls in the area of tangible assets which are supposedly safer. The fact that costs imposed by managers are detrimental to pension investors has gained more traction since the markets have failed to perform but they should have come under scrutiny long ago as should many other if not most of what I would describe as domestic financial markets.

This type of reporting is becoming more prevalent in the newspapers where sensationalist headlines followed by inaccurate and ill informed assumptions are written with the intention of adding to already high levels of public angst. I think that it is sad that the public are not knowledgeable enough to realise that they are being manipulated by a reporter with an agenda.