The Walker Code on private equity will be published today.

I have little to add to the despair I expressed yesterday when learning that Sir Mike Rake was to head the review process.

And in any event Brendan Barber of the TUC seems to have said it all when saying:

While disclosure is vital, the wider implications of the growth of private equity will not be touched by Walker.

I'd put it another way:

Self regulation does not work except for those so regulated.