Well the thing is that FFP/PSR wouldn't stop clubs bankrupting themselves, as it looks at the wrong financial indicators.
And one question I always ask people who use the "cheats" label and say we should all our trophies removed is "Do you really think that Mancini being paid just over £5m over 3 years via the Al Jazira consultancy contract, at a time when we were incurring losses that far exceeded FFP limits, made the difference to all the trophies won under Pep?"
I also still believe that when (if) we get the final verdict, a lot of the accounting charges will be over the issue of related parties. And whether or not Etihad is a related party (it isn't) it makes absolutely zero difference to the numbers. It would be just a note in the accounts.