"The good news is, there’ll now be a realisation – even George Bush sees this now – that we need international regulatory mechanisms that will ensure, for example, that these people and operations actually pay tax." – Ken Livingstone
"In the face of a credit-fuelled financial crisis, we’re going to have to re-regulate finance and taxation." – Caroline Lucas MEP
"There is a consensus forming that says an unregulated financial system is a disaster." – Professor Sheila Rowbotham
Those calls are largely from the usual suspects at the moment but how long until a desperately unpopular Labour party thinks of turning to tough measures in the hope of electoral salvation?
There is a real risk that there will be a panicked over-reaction to the grave difficulties of the moment and London’s financial industries will be badly damaged for the future.
Yesterday the Conservative leader joined with Angela Merkel to warn against protectionist reactions to the economic crisis.
Martin Wolf, also in the FT, sets out some ‘do’s’ and ‘don’t’s’ for policymakers in the current environment.