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I don't understand why we need such a clear and loud legal power to conduct commercial surveillance in the "national interest". The old protocols would suffice.

There is something deeper here. A recognition that limited liability has removed the self interest driven structural moral compass in legal services. We saw this at work in London's leading role in the creation of Buffets "weapons of mass destruction". Another instance and London's status as 1 of the big 3 global financial centres would drift away.