David Cameron has called for a public inquiry into how financial regulators failed to spot the collapse of banks including Northern Rock and the risky lending practices that led to the current credit squeeze. Getting there?
Er … and what took you so long? And wouldn't it be a good idea to find out what went wrong first, before you rush in with new legislation, trying to fix the problem?
That seems a simple progression: find out what went wrong and why; work out what is needed to remedy the problem; then implement the fix. Why does anyone think that doing it in the reverse order is going to make things any better?
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Tuesday, 24 February 2009
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