Simon English: How King of England ruled in America
Outlook If you read Confidence Men by Ron Suskind you may experience a surge of patriotic pride. The book is an insider's account of Wall Street's collapse and of how an inexperienced President gets gamed by the system. Old-time political players act to dilute Obama's impact and to stymie his reforms.
There's an account of a meeting in Washington of the top Wall Street bank chief executives, the G7 ministers and our own Sir Mervyn King, the Governor of the Bank of England.
In his typically American way, Suskind fails to figure out who King is, describing him only as "a short-tempered British regulator" which hardly does the great man justice.
Suskind has him growing frustrated with the bankers and telling them this: "You are all bright people, but you failed. Risk management is hard. So the lesson is we can't let you get as big as you were and do the damage that you've done, or get as complex as you were, because you can't manage the risk element."
Good for Sir Merv. And good for us that he remains in charge at the Bank. One of the many admirable things he has done lately was to take a two-year pay freeze. This was intended as a nod to bankers about how to behave in a crisis.
They ignored him, naturally.
That's some guestlist! Stunning images show huge dynastic wedding between Ultra-Orthodox Jewish families which attracted 25,000 guests
'He was always smiling': Lee Rigby named as Woolwich victim
'Sickening, deluded and unforgivable': Horrific attack brings terror to London’s streets
Exclusive: Woolwich killings suspect Michael Adebolajo was inspired by cleric banned from UK after urging followers to behead enemies of Islam
Seeing the larger picture: Inspiring images of space
- 1 Pope Francis: Being an atheist is alright as long as you do good
- 2 'He was always smiling': Lee Rigby named as Woolwich victim
- 3 'Sickening, deluded and unforgivable': Horrific attack brings terror to London’s streets
- 4 'Something passed underneath us, quite close': Airbus A320 has close encounter with UFO
- 5 Lord of the Sings: Sir Christopher Lee, 91, to release heavy metal album
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Nook is donating eReaders to volunteers at high-need schools and participating in exclusive events throughout the campaign.
Get the latest on The Evening Standard's campaign to get London's children reading.
Win anything from gadgets to five-star holidays on our competitions and offers page.