A Parliamentary inquiry into the performance of the Bank of England during the financial crisis should be ordered immediately, MPs said last night, after the Bank's Governor Sir Mervyn King made the surprise statement that he would be happy to co-operate with such a probe.

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'I feel that Nick Clegg is horrifically compromised by the Coalition. All the common ground I had with him is kind of lost' - Catherine Annabel, 54

Owen Jones: The Coalition has failed. There is an alternative. Can Ed Miliband be its champion?

It's up to the Labour leader to offer the country a coherent Plan B

Ready for their close-up: The Near and the Elsewhere exhibition

Those of us who imagined that the perfect lives in The Truman Show constituted a glimpse of the future could have no better reality check than The Near and the Elsewhere, a potent exhibition of visual artworks at the PM Gallery at Pitzhanger Manor, Ealing, London. These unsettling freeze-frames – by turns surreal, mysterious, or coruscatingly depressing – are like slides from some urban-cum-architectural pathology lab.

Simon English: No sympathy for troubled inventor of schemes to beat the taxman

If you were seeking an accountant, would you hire one that has just blown a £12m black hole in its own accounts? RSM Tenon, the number crunchers with the dodgy calculator, said yesterday that a review of the group's finances had revealed "significant errors".

Carlyle cashes in with ATMs sale to Japanese rival

The US private-equity firm Carlyle is set to almost double its money by selling UK cash systems and automatic teller machines business Talaris to a Japanese rival in a deal worth £650m.

100 London bankers sue Germans over unpaid £42m in bonuses

More than 100 London bankers will next week go to the High Court to sue German banking giant Commerzbank over €50m (£42m) in unpaid bonuses.

Ben Chu: It was lobbyists' influence that fostered this crisis

The banking lobby is a machine to turn profits into influence into rules to help keep profits high

David Prosser: The disproportionate damage banks can do

Outlook Having written at length in yesterday's Independent about why there should be no delay in implementing the reforms about to beproposed by Sir John Vickers' Independent Commission on Banking, there is no need to dwell for too long on CBI boss John Cridland's assertion that to introduce them at a such a delicate moment in the economic cycle would be "barking mad".

David Prosser: Derivatives timebomb is still ticking

Outlook Three years after the collapse of Lehman Brothers and AIG, regulators still have not found a way to keep track of the opaque derivatives market that paralysed the world's financial system in the wake of those corporate disasters.

Sean O'Grady: Even grim scenarios are optimistic

while not on the scale – yet – of the panic that gripped the financial world in the aftermath of the failure of Lehman Brothers in

UK banks ordered to draw up 'living wills'

Banks were yesterday told they could be forced to tear up their bonus plans and conduct fire sales of assets if they run into the sort of difficulties faced by many during the financial crisis in future.

Lehmans Dante flip appeal flops

The Supreme Court has unanimously upheld previous UK rulings that creditors should have priority in Lehman Brothers' $12bn (£7.4bn) "Dante" programme of CDOs, which one judge described as "of a purgatorial complexity".

Baby whisperer: Crying out for sleep

With their baby waking up hourly, Jessie Hewitson and her husband were at their wits' end. Could a visit from a 'baby whisperer' get them an undisturbed night?

Stephen Foley: Greece is not Europe's Lehman Brothers

US Outlook: There is a cliché emerging on this side of the Atlantic, which we should nip in the bud, that the threatened Greek government debt default is "Europe's Lehman Brothers". I'm as prone to the imperfect analogy as the next reporter, but raising unnecessary alarm in volatile financial markets will not do. It is also an insult to history.

Barclays to appeal $2bn payment to Lehman Bros

Barclays will appeal a US court ruling that it must turn over $2bn (£1.2bn) in cash to the estate of bankrupt Lehman Brothers, whose broker-dealer business it bought at the height of the stock market panic in 2008.

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David Rodigan: An MBE for reggae

David Rodigan on an MBE for reggae

The DJ from Oxfordshire and his obsession with the sound of Jamaica which is shared by Prince Charles
An artist who maps the human body

Mapping the human body

Angela Palmer: Life Lines picture preview
Crossrail: Celebrating 60 years in transport

Jubilant Crossrail

Celebrating 60 years in transport
Grace Dent: If you were on your first foreign trip for 24 years, would you want Bono to be a part of the package?

Grace Dent

If you were on your first foreign trip for 24 years, would you want Bono to be a part of the package?
Ireland's austerity D-Day: How much pain can it take?

Ireland's austerity D-Day: How much pain can it take?

After years of savage cuts, the Irish now face a stark choice: do they hand over control of their economy to Europe – or go it alone without the safety net of future bailouts?
Is doctors' fixation on treatment making us ill?

Is doctors' fixation on treatment making us ill?

Advances in medicine have made the impossible, possible. But an over-reliance on healthcare threatens to bankrupt the world – and make all of us sick
The most complained-about advertisements of all time

The most complained-about advertisements of all time

The ASA has received 430,000 complaints during its existence, with a record 31,548 in 2011
Olympians: They're fit and don't we just know it

Olympians: They're fit and don't we just know it

From Tom Daley's six-pack to scantily clad volleyball players, Olympic athletes are being sold on their sex appeal. Why can't we appreciate talent, not totty?
Return of the unacceptable face of capitalism?

Return of the unacceptable face of capitalism?

Sir Richard Needham's resignation from the board of Lonrho brings back bad memories of the group's controversial past
Off the rails in Bermuda

Off the rails in Bermuda

Best known for beaches, it's also home to a stunning hiking trail that follows the route of an old railway line
Get ready for a royal good time

Get ready for a royal good time

There are plenty of events to help you fly the flag during the Diamond Jubilee long weekend and half term
Spain: World football's marathon men

Marathon men: Are Spain running out of puff?

They have every right to be exhausted after four taxing years of almost non-stop action but the chance to claim a unique treble is spurring them on
Usain Bolt: The Bolt show runs on

Usain Bolt: The Bolt show runs on

Friday's 'slow' 100m has done nothing to dent Jamaican's supreme confidence he will triumph in London
The weirdest and most wonderful Diamond Jubilee memorabilia

Weird and wonderful Jubilee memorabilia

Coronation Chicken ice cream and Jubilee jelly moulds
'I may be deaf, but you can still talk to me'

'I may be deaf, but you can still talk to me'

Being a teenager is hard enough – for those with hearing loss, it can be even more complicated