But I was pessimistic that anything would actually happen :
Creating larger institutions could encourage more risk because they were "too big to fail", he added. It would be a "bitter irony" if the sector became "even riskier", he said.
"doubtless the reason nothing will be done (and I'd be so pleased to be proved wrong) is that the banks will 'need to be large enough to compete internationally' or similar. In which case we'll be back where we were, only more so .."
Now Osborne's not changed his tune, but here's that expert severance negotiator Lord Myners :
British banks must be allowed to remain large enough to compete on the international stage, Treasury minister Lord Myners said today drawing a line between the Labour government and more draconian plans from the shadow chancellor, George Osborne, for a sharp reduction in the size of banks to cut risks to the taxpayer if they fail. Myners said a review of the financial services sector by a group of City grandees argued that more effective regulation of the banking sector was the key to reducing risk and maintaining London's position as a major financial centre. Myners also argued innovation would be encouraged, despite concerns that a legacy of complex financial instruments were in large part to blame for helping create the credit crisis.
Hmmm. "A review of the financial services sector by a group of City grandees." I imagine the same sort of review is going on in the States. The finance industry has effectively captured our government.
A blog devoted to the green-ness or otherwise of "green" light bulbs - Greener Lights ?
A blog devoted to history, in particular the post-WW2 British occupation of Germany - How It Really Was.
Separate lives - Sathnam Sanghera on living in Brixton.
The Sri Lankan civil war is fast approaching a bloody conclusion as far as conventional war is concerned, although I imagine we may well see an IRA-style campaign continuing. The response of the Sri Lankan government is likely to be a good deal more 'robust' than that of Britain to Sinn Fein/PIRA. That's not necessarily a commendation. Look at what happens to journalists there, let alone terrorist front parties.
I don't know enough about Sri Lanka to take a view on who the good guys are, or if it's six of one and half a dozen of the other. But it's remarkable how little outrage the decision to keep journalists away from the fighting has caused.
Let's hope we don't see any unfortunate incidents like this in the UK. I'm sure feelings are running high.