I agree with Kurt Smith on this one. Banning speedos is an embarrassingly sexist and hackneyed attempt at censoring the human body.
To those in this thread that think that speedos "leave nothing to the imagination" I would say that you cannot remember the 1980s, because back when I was a child that was all any male would wear in the swimming pool.
If you are embarrassed about your own bodies then so be it, but people do not go to swimming pools to judge, and children don't stare at/get scared by the outline of people's bodies. It would be your own unease or inappropriate reaction to seeing men in speedos that would be more likely to disturb your child's psychological development than the actual speedos themselves.
Mary Whitehouse may turn in her grave, but I really don't think we have anything to worry about with skin-tight swim wear. It does, after all, reduce drag. Perhaps we should all swim about in boiler suits? Better still, why not always wear boiler suits? Grow up.