"I don't know how the Tories have got the nerve to pontificate on financial regulation when it's perfectly obvious fromn their performance over the last few years that they have no idea what they are talking about." said Godfrey Bloom MEP, UKIP Economics spokesman.
"There's no such thing as 'light regulation' in financial services: the FSA write their own rules, collect and keep any fines and are above the law. It's a system a banana republic would be proud of.
"And currently, the FSA is being run by friends of Gordon Brown, not even clever friends. This is an industry which used to make up 10% of GDP and it should be in the hands of people who know what they are actually talking about.
"Would you let your family members go for heart surgery performed by a taxi driver? Then why should the heart of our economy be managed by people who don't have a clue?"
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