FSA: Jobsworth at the controls!

Jobsworth: "a person who uses their job description in a deliberately uncooperative way, or who seemingly delights in acting in an obstructive or unhelpful manner." (Wikipedia). This definition comes to mind when observing the activities of - nameless and faceless - bureaucrats who have the ultimate say on who can occupy a senior position in the British financial service industry. I was always wondering why anyone would submit himself to the humiliating treatment meted out by people that would hardly ever stand a chance to succeed in a competitive environment. If politicians want to safeguard the financial system it is up to them to devise good regulation and not start micro-managing the sector in what can only be called a proto-stalinist manner. I have proposed simple and effective solutions in several posts, but so far no one seems to care - creating thousands of pages of new regulatory pamph is much more to the regulator's liking. Does Vernon Hill really need the aggravation at this stage in his life? The British Jobsworth establishment seems to do everything it can to protect the existing banking oligopoly while shedding crocodile tears about the lack of competition and bank lending.