Unholy alliance
It appears that Angela Knight , head of the British Bankers' Association , thinks that now is not a good time for structural reform of the banks to make them less dangerous to life and liberty in the event of their failure. It also appears that John Cridland , chairman of the Confederation of British Industry , thinks the same. Knight argues that reforming the banks now, when the economy is dodgy, the stock market is volatile and the Eurozone is imploding, would delay economic recovery. She wants banks to concentrate on making money so that they can "pay taxpayers back". Implementing structural reform to reduce risk can come later, apparently. That's bonkers. We are facing a banking crisis that could make Lehman look like a minor flurry. The imperative to reform banks to ensure that they can fail safely has never been stronger. Delay economic recovery? Disorderly failure of unreformed banks wouldn't just delay it, it would cancel it for a generation. And