In praise of Mervyn
[Re: Somebody needs to guard the City of London’s guardians, yesterday]
To me the story comes across a little differently. The recent facts on Libor point to regulators knowing that the rate was rigged, but doing nothing – or at least nothing in a timely fashion. But Mervyn King succeeded where our current generation of politicians has failed. He managed to tune into public perception of what was necessary regarding the leadership of Barclays and, by weight of influence and not coercion, effected the resignation of Bob Diamond. He borders on being the last man standing fit to regulate the banking sector. Needless to say, politicians now want his power stripped away.
[Re: London’s homes are still horribly expensive for first time buyers, Monday]
Given current pressures on housing in London, why do we build so few high-rise apartment buildings? It’s a feasible alternative to the political impossibility of expanding sprawl out onto the Green Belt.
[Re: Ignore the IMF: Forecasts have a history of being unreliable, yesterday]
It’s tempting to follow Paul Ormerod’s plea to ignore IMF forecasts. But is the British economy doing well? Yes, some business surveys contradict official GDP figures. But they only question the degree of poor performance, not its substance.