Once a Banker...

I hear that our dearly (as in expensive) departed (almost) the bankers are happily rebuilding their financial positions (thanks taxpayers) but possibly less than happy, now that some cash can be repaid to governments, that they have lost control quite so much over their shares (and possibly bonuses and that freedom they used to enjoy). Watch out for the renegotiations as the hand of government weakens and the banks strengthen; ungrateful lot. Was ever thus of course and the politicians that brought us to this pass have their places reserved on various boardroom tables across the globe to help things along.

Bankers and Regulation

An excellent article turned up in last week's Sunday Times and upon re-reading it I decided that it would be worth sharing on here; not least because it would, in some part, explain my (perverse to some) views on the banking crisis and the joys of regulation (and how light touch regulation was anything but and actually a failure of heavy handed and misplaced regulation was much to blame). The following explains what I often by a lack of wit, voice or sobriety fail to get across in person:

Times Online Think Tank on Comfort Blankets

The cost and pain of this crisis looks to have been generally wasted because as a result we still have most of the big banking sector intact and, crikey, part government owned plus every reason under the sun for government to persuade us that more regulations are necessary.

That's what your debt of £25,000 each has bought you lucky people: more government. It's the gift that keeps on giving (as long as you keep on paying). Great. Not.