It cannot be much fun to interrogate men who are already broken, but the Treasury select committee had assembled on Monday for a show trial rather than a genuine cross-examination of witnesses. Sir Fred Goodwin, former head of RBS offered a ‘profound and unqualified apology for all the distress that has been caused’. And how
Like skaters on a lake’s frozen surface, we are sometimes reminded how thin is the crust of philosophical confidence on which our systems of political economy rest. Two years ago we were mostly agreed that free market economics had won the ancient argument between capitalism and the planned economy. Two years ago the case for
The case of Caroline Petrie, the nurse suspended for offering to say a prayer for a patient, discloses something of which most people may not have been aware. To work in the National Health Service, it is officially stated, you ‘must demonstrate a personal and professional commitment to equality and diversity’. It is remarkable that
‘One of my American clients recently lamented: “If only I’d put as much money into military medals over the last year as I’d put into the stock market,”’ says Peter Dangerfield, owner of online medals dealership www.medal-medaille.com. The markets for military medals and ephemera are strong, with new buyers venturing into the militaria world in
‘Mr Ten Per Cent’ has long been a term of contempt. Indeed, finagling Hollywood agents’ decimation of their clients’ earnings resulted in one of the few successful exports of a Spoonerism to California — to explain the difference between a talent agent and a rooster (the latter ‘clucks defiance’). So why has it taken a
It has been a terrible 12 months for investors. It didn’t make much difference whether you invested in stocks, commodities or corporate bonds, the chances were you took a hammering. Even gold failed to sparkle as the credit crunch cut a swath through every kind of asset class. And yet there were a few individuals
So Business Secretary Lord Mandelson is planning to turn the Post Office into a ‘people’s bank’ — to add to the taxpayers’ portfolio that includes most of Royal Bank of Scotland, the biggest stake in Lloyds Banking Group, the rejuvenated Northern Rock, the rump of Bradford & Bingley, and dear old National Savings & Investments.
‘The President tells me that too much regulation is harming business,’ Margaret Thatcher said, the moment I walked into her office for my weekly meeting. I had been appointed minister without portfolio some months earlier and the Prime Minister had just returned overnight from her latest summit with Ronald Reagan. ‘You had better believe it,’
The Insolvency Service has sent me a questionnaire seeking my views on bankruptcy. At first, I was enthused by this chance to say what I think about Gordon Brown’s reforms which have led to an explosion in personal bankruptcies — a record 200 of them per day in the last quarter of 2008 — and
Being a professional writer is a hard life. Producing a book, especially a long one, is a severe test of courage and endurance. For even after a successful day of writing, one must begin again the next morning, the blank sheet of paper in front of you: a daunting image to start the day, the
It’s not just politically incorrect toys that need to be hidden in the attic; certain words also need to be junked. It’s not just politically incorrect toys that need to be hidden in the attic; certain words also need to be junked. ‘Sorry’ has lost its mojo for me, it’s gone mainstream. It’s one of
