Tuesday, February 02, 2010

THE FUTURE ISN'T WHAT IT USED TO BE

Having been critical of last week's BBC Radio 4 Analysis Programme at my other blog - http://janetmackinnon.wordpress.com - by way of balance I shall commend this week's episode.

Edward Stourton takes on the thorny issue of financial regulation, and, in particular, the relationship between the retail and investment roles of banks.

One commentator has a good dig at "a former British prime minister" who now holds a lucrative advisory role with one of banking's Big Beasts !

British banks declined to participate in the programme, handing their representation over to the ever-stalwart Angela Knight.

The episode ends on a rather apocalyptic note, with the economist John Kay raising the spectre of a new crisis of capitalism.

In short, western economies seem to be given a "Triple B Rating" : the lasting legacy of the Bush-Blair-(not-to-forget)Brown years ?

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