With Barclays firmly in the spotlight for what is politely referred to as’ market manipulation’, I was struck by Robert Peston on the Today Programme last week pointing out that the tragedy of Barclays is in fact a tragedy for us all because – in his words – we need these institutions.
I’ll leave a critique of the banks to others, but this latest crisis is a timely reminder of the concerns about light touch, principles-based regulations for all professions and regulators (see Tom Kilroy’s excellent post on that here).
