Sliding...

The Financial Conduct Authority has taken steps to curb the perceived excesses of Wonga (see post dated 17/10/12) and their like.  So that's got to be a good thing, right?  Well, maybe, maybe not.  Those with some sort of credit rating - however poor - will be able to find alternative lenders, but for the desperate, the hopeless, where do they now go?  And the danger is that they will be forced to go down the pub to see "that bloke" who knows somebody...  And that bloke and his mate are most definitely not regulated by anybody. So would that be a move for the better?