It is astonishing that the banks, having cost the country £68bn in bailouts plus an additional £850bn in loan guarantees, asset protection schemes and enhanced liquidity, have not been reformed in any way in structure, pay, bonuses or lending.   True, the Vickers Commission is due to report later this year and may some division between the investment and retail arms of banks.   Or it may fudge the issue, or the Tory Party, which has been shown to get half its funding from the finance sector, may succumb to the intense lobbying from the banks to do little or nothing.   So what should actually be done? Continue reading →