The Independent reports (http://www.independent.co.uk/news/business/news/fears-of-bank-exodus-sparked-by-fsa-reforms-1645215.html) that 'bankers' are concerned that new FSA rules may deter them from doing business in London.
Given that the majority of our current woes can be laid at the door of these barrow boys who had no conception of fiscal responsibility, along with the idiot politicians who connived in their reckless and possibly fraudulent activities, all I can say is 'good riddance'.
An acquaintance of mine who refused to be involved with the FSA, despite being tipped for the top job (no names, no pack drill - check the Private Eye archives if you want to try to figure out who it is) summed it up perfectly the other day - banks should be run by bankers, not shopkeepers.
We need these new rules on liquidity and financial instruments, to ensure that we never again enter the cheap credit / expensive property spiral that has characterised the last 12 years of Labour maladministration.
And if that means that the dodgy operators go elsewhere, then so be it - I just wish we could have some new rules that would make all the politicians piss off as well.