Continued sure, but Sir Robert? Possibly so given his networking seems to get him into all the right places.

Peston was in the eye of the Northern Rock storm and was attributed by several commentators at the time as being largely responsible for the run on the bank.

Recently he's been 'credited' via his sources, of diverting attention from Barclays onto the BoE. He was also first out of the blocks with the Agius resignation.

Then there are politicians wondering what the score is.

An OBE be for cultivating an impressive network of contacts who are prepared to spoonfeed hot intel would be more in order, and a bit on the side for spin. OBE meaning these other buggers' efforts, as usual.

Unless reality is faces, the economy will be brown bread.

True enough, getting more dough is the yeast of his worries.

Apologies for the baker/banker error I am delighted it produced some humour.

Interesting comments from Vince Cable, probably the most competent politician in the cabinet, ( the list, is not long ), who has today castigated the banks for:

"being totally anti business and for being totally fixated on short term trading profits and not in any way focused in the long term."

He is sadly, absolutely right and this is precisely why I started this post. The bankers are as gambling orientated now, as they ever were. And IMO still totally out of any really effective control.

That is my view and has been for some time. There has been a sea change in the approach of the banks, who are totally uninterested in lending money to businesses in the UK, and seem convinced that gambling in short term trades with a quick profit is the way to banking success.

Unfortunately the effects of this change has been to worsen the attitude of banks towards customers and has pushed the banks in entirely the wrong direction, and to embrace gambling in all its forms and eschew all sensible investment. This is all going one way for banking. The wrong way.

If the banks want to use the funding provided by cautious customers looking for security and a small return, in other words most small investors, and if the banks want trust and belief in banking to be restored, then the banks have to support the economy and make investments within, the UK economy to the benefit of the UK.

To regain trust the banks have to conduct their business in a prudent and responsible way, Short term trades may, or may, not bring short term profits. But such activities cannot be a substitute for the essential business of lending to industry and commerce which is totally absent currently and much worse actually, plays no part, in the current banking plans.

Banks have become adept at finding reasons why such loans are inappropriate and unattractive, Because banks are convinced that gambling on the markets is the way ahead. Still, less than five years after the last catastrophe, the banks wrought upon the taxpayer.

I really do not think the banks have learned any of the essential lessons that, the banking collapse should have caused to be forced upon them. If the banks cannot understand the fundamental mistakes that were made universally across the boards in banking that caused the collapse, then they will not appreciate the extent, of the culture change needed.

The reasons are simple, The Blair and Brown governments were totally ineffective in controlling, managing and regulating the banks, over a period of 12 years which is one of the primary reasons that the banking crisis arose, without the early signs being spotted. That complete lack of awareness in the regulators continues currently. Five years later. We are not through the woods yet with banks, never mind out of the woods.

Then, sadly the coalition has emulated the Blair/Brown incompetence, in every way possible, in the two years following the election, that thankfully. ousted New Labour . As a direct result, facts like the Libor manipulations, have remained hidden from public view already for over five years. There has not yet been any recognition in banking that the entire collapse of the banks was down to the mismanagement of banks by bankers.

There needs to be that essential recognition, in order that the culture change needed, can be effected and sensible business practices reintroduced into banking. The gambling and the belief that this gambling is reasonable business, for a bank to be engaged in, must stop.

Nor can including annual lottery wins masquerading as bonuses for market traders be continued within the banks. This is another essential banking reform. If they traders make their money in that manner, let then find an employer, and good luck to them. I rather doubt they will. Let such individuals risk their own money backing the running of the 3 30 at Kempton. That is not banking. Nor is it business.

http://www.bbc.co.uk/iplayer/episode/b01kcpfh/The_...

Some interesting views on investment bankers about three quarters of the way through this programme. Immediately followed by a hilarious comment from a Russian chap.

Do you work in the city? Why don't you come and join in, you might make a difference.

You people! Stop it this instant!

Yep, it's added some welcome leavening to the thread.
Some of the submissions are a bit half baked, though.

Farepack was running for him many years?

Yet 'savers' funds weren't ringfenced from the outset.

It seems the directors only thought to ringfence funds toward the end when the business was on the rocks - in which case why were the directors accepting deposits?

I agree the bank should have ring fenced the funds on request and then insisted on £8m of personal guarantees from the directors - except they would never have agreed to that.