Can we please get this straight, once and for all? It isn't markets to blame here, it's interference in them?
Yes, we have learned some things and yes, we can make sure we don't have a Depression again.
As long, that is, as we don't do what everyone did last time one threatened.
The information was there for those local councils, if only they'd paid attention to it.
When people call for more regulation precisely what do they mean? The market seems to have regulated the investment banks pretty well.
Our non-market regulators on the other hand really don't seem to have done very well at all.
And finally, as ever, one rule for them, another for us.