I refer to the letter from Peter Brown (Letters, 18 August) with regard to the current FSA situation.

A lot of what he says that is wrong with the current system would be easy for any idiot to fathom. However, he forgets that we are dealing with politicians here. Regardless of whatever illogical reasons they give for implementing the new regime, the regulations are pointless in every way.

Furthermore, any argument Mr Brown can proffer on this situation completely misses the point on why these regulations were instigated in the first place.

The main reasons are twofold. One, is to take around 5,000 unemployable persons and set them up in plush offices in Canary Wharf at the expense of the UK broker community. This makes the government look good in that it can rave about how it has reduced unemployment levels since the Tories were last in power.

And two, it gets around 5,000 'new' New Labour voters. The Tories were making promises about deregulating general insurance at the last election. So, to safeguard their life-long employment potential, none of these 'new' recruits would ever dream of voting for the 'opposition'.

Name and address withheld