[ajross]

OK, so there's a regulation that limits risk in pensions, this pension is incompliant (which is the same thing as "out of money" I'd argue), and you think it's too conservative a metric. And the pension fund members are, unsurprisingly, on the hook for the difference.

And I'd probably agree as a numeric argument. But I still don't see that as an argument against "government". And I surely don't see that as an argument against the idea of regulating risk in pensions, given the propensity of these things to go belly up over history.

[twic]

In this case, the problem really is caused by some bad regulations. But that doesn't mean that all regulations are bad, or even that these regulations are all bad - they probably work fine for big companies like the ones Maxwell raided.

Perhaps other people were arguing that in this thread; they're wrong. But it's also wrong to say that this problem is nothing to do with regulations!