RAPID responses

Monetary wisdom

[Re: Luck-based pay makes decision making a lottery, Wednesday]

Jamie Whyte's analysis is simplified to the point of being meaningless. If a corporate banker only makes one loan and bases his analysis purely on a credit rating, I would question the wisdom of paying such a banker anything other than a basic wage. The logical conclusion in his scenario is that all reward should go to the supplier of the capital, the person bearing the risk, as the task requires no skill. A middle way is appropriate and this involves regulation. In his analysis, surely this would be justified. His description is of bankers comparable to children who would steal money for sweets with no consideration of the consequences.

John Diamond


Regulating stasis

[Re: Scientific progress and emerging markets give us hope, Friday]

I have seen, over the past two decades, fantastic science developed by small medical research groups which is then snapped up by companies with large cash reserves. The technology disappears from public view and may or may not reappear, after an extensive clinical and regulatory approval process. Technology is hardly ever sold on to competitors. If the technology does make it to market, it will face tough scrutiny by UK NHS approval authorities. It is not uncommon for great science to be invented on UK soil, make it to US, Canadian and South African markets, and never gain approval in the UK. It is a cost issue.

Michael Fourier



Credit to @cityamonline for describing Marine Le Pen as an “extreme nationalist” rather than a creature of the right.

Sarko socialist, Hollande far-left, Le Pen extreme right. Is there any real pro business party in France?

Fascinating French election – a Hollande win has huge connotations for the Eurozone.

Interesting that Livingstone has normally bucked the anti-Labour trend, but is now struggling more than the national party.