The UK was an enthusiastic participant to Bretton Woods and the Bank of England was not yet an independent body. I would have assumed that UK laws and regulati

The UK was an enthusiastic participant to Bretton Woods and the Bank of England was not yet an independent body. I would have assumed that UK laws and regulations were updated similarly to facilitate Bretton Woods, not just the US. In fact I was under the impression they had been resulting in the dullness of City banking, and the unprecedented period of stable growth etc, postwar through to the 60s. Even had they not BoE should have been able, or been required, to step in and regulate it out of existence - or at least out of the UK. > trying to cheat the markets for political purposes Fundamentally disagree here. Markets need strong regulation for purposes that need not be political at all.