The problem being, of course,as has been widely pointed out, no regulator across the world appears to have really seen the financial crisis coming, instead living in hope that while they made hay while the sun shined, that the sun would keep shining. The regulators were all fooled by complex inventment instruments, and so were the rating agencies, the sellers, and the buyers together. Only a few lone voices saw any real danger and they were ignored until too late.

The danger is that the change in regulatory structure is not simply too little too late, but that it will also cause restrictions on economic growth. If the Bank of England can now start to restrict mortgage lending, and lending to business, the resulting lack of credit in the economy can only constrain growth, and come at precisely the wrong time.

This is probably even more a salient point as Mervyn King has suggested that interest rates may have to rise sooner, rather than later. In which case, it can only create yet another additional pressure on credit in the economy. While too much credit has been proven to be a bad thing, too little credit is demonstratively counter-productive as well.

In the meantime, how effective can the Bank of England be with main regulatory powers under it’s main control, if no one in the decision-making process notices the real dangers anyway? And how likely is the Bank of England going to address existing economic imbalances, not least in the UK property market and its still extant bubble, after allowing it to develop for so long?

The real problem for many people is not regulatory supervision either, as unfortunately consumer-orientated needs are still being driven by smaller, daresay ineffective agencies. For example, the FSA will now become just Consumer Direct, an organisation that for all intents and purposes is simply a conduit for complaints, rather than a body that can truly address them in the first place. And then there are the other consumer bodies, weak and little effective, such as the Office of Fair Trading which has continued to give the green light to unscrupulous lenders, while the Ministry of Justice continues to licence debt claims management companies which have taken money from consumers for years, and yet never delivered a return for them.

There is a serious problem with regulation and supervision of the financial services industry being disjointed. While dismantling the FSA may seem like an initially helpful move, evidence suggests the real reform is required at the point where consumers meet service providers, and as yet, this area still remains disjointed and exposes consumers to unnecessary exploitation.

While it can hardly be good news for any company, even one as oil-rich, literally, as BP, at least it will help put an end to some degree of uncertainty.

Indeed, the main problem with the BP situation at present is the lack of action and information. It appears the $50 million spent on PR by the company is small fry compared with the corporate communications the company should have been focused on, but little has come out by way of media reports.

Will BP provide a dividend in 2010 or not? They had a meeting on Monday, and the result of that was? Why do they still have BP’s Anthony Hayward talking to angry American media when it is obvious a skilled American PR is required?

Interestingly enough, Neil Collins at the Telegraph suggests BP now needs someone like Tony Blair, certainly as an ideal. While some commentators regard the matter as satirical, what is underlined is that BP needs to be seen to act now to repair the damage among investor perceptions.

Certainly if Tony Blair can mislead the UK into voting for an oil war, surely it should not be too difficult for Tony Blair to mislead US votes into believing the situation in the Gulf of Mexico is controlled and managed, and that everything is now absolutely fine?

No big moves in BP’s oil price after the announcement of the $20 billion fund agreed with Washington, as markets appear to have already priced this in. Almost certainly there will be no dividend, and almost certainly markets have also priced this in.

I would be tempted to look to buy BP shares now on the grounds that they have suffered a crisis but are unlikely to suffer further, and that under normal market conditions we should expect the share price to rise back into the 400’s or 500’s within a year. For a shares ISA that would easily outpace the meagre savings rates available at present.

However, I do not think market conditions are normal, and fully believe we are now in a bull market that will likely lead the FTSE 100 back under 4000 points over the next 12-18 months. That will almost certainly take BP shares down with it.

So if you fancy a punt, then BP shares are ripe for it, but take care that the overall market movement appears to be downwards at present.

While the DCLG reports that property inflation over the past year has reached over 10%, this has been overwhelmingly driven by easy credit rather than a return to normal for the market. Standard mortgage rates are now typically 4% or lower, which beats even the low interest rates that prevalied at the height of the property boom across 2006-2008.

In simple terms: as the first signs of a market downturn came in, cash buyers and similar moved in to take advantage of lower high prices - not least because of the easy credit still available to them. With that market segment removed, there are no real buyers and prices can now only fall.

And then there’s the potential for increasing Captial Gains Tax forming an extra downward pressure on property prices, as RICS have warned of. To the credit of the commentators on the Telegraph’s piece, they recognise an unhealthy and bloated property market benefits nobody. High house prices are fine if you are cashing in, but most people will not be, which makes the values transient and irrelevant for existing home owners who wish to live in their property.

The scene is set very much for a fall again, with the CML reportedly announcing a fall in house buyers, with the result that while property inventories at estate agencies are growing, with fewer buyers left in the market (and first time buyers have long been priced out), then the only way the market can move is for prices to fall.

For once, few people are trumpeting a need for house prices to remain high, which can only be a positive thing. After all, we’re still on the downside of a property bubble, which remains harmful the longer it is left uncorrected, resulting in a general sense of gloom among the BSA.

However, no doubt some of the electorate will see a fall in house prices as a negative, unwelcome, event. Even still, I suspect for many people there will be relief, even if their own home values fall. A skewed and unrealistic market benefits nobody, and I suspect the majority of home owners in the UK are more than aware of that, and more than prepared for a fall in prices.

Personally, I suspect we’ll be looking at around 20% fall in value, which for most, should spare the pain of negative equity.

The main danger, really, is a rise in interest rates. Artificially low at present means mortgages can be relatively easily paid. Once they start rising to normal rates, that is when and where the pain will really set in.

Today’s news is that spreads on Spanish bonds continue to rise, with a coming meeting between Spanish leaders and the IMF speculated to herald a call to tap into a Greek-style emergency fund for the country.

Investors have already been withdrawing from exposure to Spanish debt, much to the concern of companies such as Santander, who continue to insist on being strong and well-capitalised. What is very interestng is that some commentators raised concerns about Santander nearly two years ago, when the banking crisis was seen as primarily UK-driven.

While the Euro appears to have performed well today, as much of the news remains focused on BP, coverage in the Telegraph raises an interesting report from AXA which suggests a break-up of the Euro is an increasing likelihood, as opposed to being doom-laden speculation.

One thing remains certain, and that’s the Eurozone will remain very much under scrutiny for some time - because at the moment, it appears less a question as to whether a crisis will hit, as much as when and how much.

Finding suitable offices has proven to be a surprisingly difficult endeavour, with quite a number on the market, but few actually properly suitable because of their existing design, not least in older buildings.

However, it looks like we’re finally moving A1 Brokers into office space at Beechwood.

There are still a couple of issues to address first before we’re properly operational, though.

The first is that we still haven’t cleared a full list of representatives to send our leads through. We are still waiting for Central Trust to address some technical support queries to allow us to sort leads automatically for personal loans on our A1 loans website.

We’re also trying to get the business phone system sorted out so that we can automatically direct leads for different products to different phone lines automatically. There are plenty of phone systems available for office maintenance, but it requires bringing a number of third party providers together, not least BT and their inept support department.

However, it looks as though we’ll be setting up our broadband through a dedicated provider instead, and use a leased line internet connection to ensure we have plenty of spare capacity bandwidth. While it’s proving an expensive option, we need to ensure plenty of redundancy is built into the service due to much of it being sorted automatically either via the internet or the phone line, so it remains an essential trunk of the business.

Office furniture is not so much of a problem. Because of the financial crisis there is actually a lot of inventory available at present for second hand, and we’ve been able to pick up quite a bit of office equipment like this. However, all electronics are being bought new, not least the business computer system, as the last thing we’ll need is any of the main computers crashing and taking down our data or other essential operations.

Staffing is not a problem, either, as I’m bringing on board local contacts and freelance agents I’ve been working with for some time.

So all in all, it looks as though the office is almost ready. The pieces of the jigsaw are all in place, it’s just waiting now to bring them together.

To be part of this year’s allowance, the transaction will need to be completed by 6 April 2010.

However, due to the Easter Bank Holiday, savers and investors only have until Saturday 3 April to do this.

Therefore if you haven’t already put your ISA money away, you have only days to get the situation addressed.

According to CityWire, the following are the best ISA’s currently on the market:

Leeds Building Society ISA - five-year fixed rate paying 4.6%
Nationwide Building Society cash ISA - five year fixed paying 4.25%
Saga at 3.9%
Coventry Building Society - one-year fixed rate at 3.25%
Santander Flexible ISA - 3.2%
Barclays Golden ISA - 3.10%.
Cheltenham & Gloucester - two year fix at 3.5%
Post Office - one-year fixed-rate at 3%

Traditionally, people would put their savings away into a savings account, generally a higher interest  account, with the highest rate accounts offering higher returns the less you touched your money (ie, notice accounts).

Those people with a lot of money to save would often look to save their money in multiple accounts with multiple savings providers, and those paying higher tax put their savings into offshore banking.

While there were additional tax-free interest savings options, such as TESSA’s, PEP’s, then ISA’s, and variations on savings such as the premium bonds, that was as complicated as it got.

Those who did not want to invest in stocks and shares, mutual funds or index funds, futures, bonds, or other investment vehicles as part of a portfolio, remained just savers.

What has happened since the financial crisis is now those savers have become investors, without realising it.

Savings rates have been slashed as the Bank of England lowered interest rates to record lows of 0.5% - with both current account and savings account rates following suit.

The result? Most current accounts now pay 0% interest, and savings accounts rarely offer more than 1.5% .

However, many savings providers are now offering higher rate savings through fixed rate bond accounts, where interest rates can be 4% or more above the Bank of England’s base rate, so long as you lock you money in to the account for two, three, or five years.

The result is a major change in the savings landscape that few have even noticed, as savers are now finding themselves forced into putting their money into bonds for a fixed term. In effect, they are now investing in investment products, rather than saving in savings products.

The surprise is that only a few savings and investment brokers have noticed this change

While some commentators have suggested that 2009 saw the growth of green shoots in the economy, others remain adamant that we are looking at a W shaped recession.

Either way, it looks like the savings landscape is not going to change any time soon, and that fixed term plans will continue to force savers to become investors in all but name.

It’s a shame, really, as Zen has a far better reputation for service and support than BT, but the problem of wireless interference is a constant and annoying problem.

Plus BT are offering mobile broadband with their new broadband packages, and free BT openzone minutes, which will be very useful for business travel.

The caveat is that the pricing on the BT website is quite misleading, as those shown only apply to certain exchanges (apparently) plus they include 24-month pricing, which can take as much as 25%-30% off the 12-month price (so Option 3 is £45+VAT over 24 months, or £30+VAT over 12 months).

Still, at least I know from experience that the BT router supplied is far less susceptible to wireless intereference.

Which is very important, because if I couldn’t get decent business broadband, I’d have to consider more serious broadband connection packages, such as a leased line or custom business SDSL, both of which are priced higher than normal mass-market broadband packages.

In the meantime, I can only hope the move to BT goes smoothly, and that I don’t end up getting caught up in their cold automated support process - as BT customer service is not renown for being good.

That may seem somewhat alarmist, but despite the claims of “green shoots” earlier in the year, we have not seen any signs that the economy is returning to normal. In fact, anything but, and that at best we’re moving into a “lost decade” similar as to what happened to Japan.

Britain’s debt to GDP is spiralling out of control, and even measures to reduce costs being mooted by Labour and the Conservatives are plain in their limitations - we are in far too much of a hole to be able to dig us out even within the next Parliament. It’s going to take a full decade to even begin to expect to bring British debt to normality, and during this period, there is no reason to presume the economy will fare any better.

Repossessions continue to be high, insolvencies are expected to increase, and consumer debt is growing through credit cards and loans at a time when paying are supposedly paying off debt. Unemployment continues to increase in leaps and bounds (forget that’s its slowing - double dip, people), and rather than help employers hire, the government is actually going to tax companies more for employing people.

In the meantime, ratings agencies expect at least a further 15% fall in house prices in the UK, and at a time when the market is limping forward, the FSA wants to bring in tougher rules on mortgages, while at the same time demanding banks hoard more cash.

And that’s before we even get into the threats of deflation and unknown consequences of “Quantitive Easing”.

The result of all these pieces in play can hardly be good for Britain - worsening debt, worsening access to credit, worsening consumer spending, falling asset prices, etc. The strategies in play may be different to Japan in the 90’s, but the state of play is looking increasingly like it.

The problem, of course, is that while matters are exacerbated in the UK, these are afflictions across the world economy. So where is safe?

The answer is relative - the financial crisis is firmly rooted in the US and Europe, and while other areas have been impacted, their fundamantals have been far less knocked by comparison.

Asia remains strong and a bulwark so far against global financial collapse. While no doubt asset bubbles there are growing, they still don;t have the problem of being so invested in complex debt instruments that have so far crippled US and European banks.

Personally speaking, Thailand looks idyllic, but remains subject to Typhoons, as does much of East Asia. A good place to consider investing in, though.

South America is another emerging economy as well, not least in terms of investments, such as land for sale Brazil & property for sale Brazil. If South America itself seems a little rough, you could always consider moving towards central America, not least Panama, which remains under US control, and still offers a lot of decent property for sale Panama.

Australia or New Zealand could even be places worth considering moving to - close enough to Asia to feel the economic benefit, but heavily Anglicised.

In the meantime, now seems to be the moment to batten down the hatches or move on - economic power is clearly heading East, and to developing nations, and for those who remain, only the prophets of doom are left to comfort us.

I’ve come across an interesting problem while setting up my home office, though - wireless interference.

I was originally with BT as my ISP for broadband, but after previous problems with the company I decided quality of service was more important than price, so I moved to Zen Internet.

They sold me a Thomson TG784 router with the package, and all seemed to be running fine.

Until I bought a nice cordless phone, a Panasonic KX for the home office.

Both work very well and as required most of the time, but the problem is that whenever anybody rings, the broadband cuts out.

The result is quite annoying, especially as I keep getting sales calls from loan companies using autodiallers - which disconnects the internet every time, even when I pick up the phone on the first ring.

I’ve contacted Zen about the problem, but they haven’t been much help at all. And I wouldn’t expect much from Panasonic as the phone does exactly what is expected from it.

I was beginning to think I needed a different business broadband service. After all, there is a myriad of types to choose from - ADSL, SDSL, bonded broadband and even leased lines. And don’t forget the satellite option!

Apparently, though, wireless interference is not all that uncommon.

The frustration is that if wireless interference is such a problem, then why is more effort not made by manufacturers to minimise the risk of it happening in

the first place?

This is especially when there appears to be quite a push to make much of home networking wireless.

It looks as though I will now have to look at changing my router to one that runs on a different frequency. which is obviously going to be cheaper than

having to get a new type of broadband installed.

It is still a pain, though. Still, I do not think I am the only one who has never got frustrated over a computer issue!