The banks’ political errors?
I’ve often been struck when meeting very successful business people, how many of them know a lot about making money but have the political nous of an avocado. I wonder if the current behaviour of the banking sector is a case of collective failure in this regard. It is certainly striking to contrast the comments of Mervyn King (a man with a surfeit of nous) and the Chancellor today with those of Brian Griffiths of Goldman Sachs. And one can’t help but speculate if, as The Indy suggests today, the banks are not storing up a vast amount of political trouble for themselves over coming months and years.