FT, why preach to others what you do not do yourself?

Sir, in “An emerging risk” July 7, you correctly state that “Misdirected credit can channel too much money into… a sector and this can create a dangerous bubble”, and that “suboptimal credit allocation can harm economic growth both in the short and the long run”. 

And then you urge developing countries to ensure “credit flows where it is most needed” and that “credit flows are driven by economic and not political considerations”. 

And so let me ask, what’s wrong with following those same suggestions at home? Right now, yours not too bright regulators are just assuring that bank credit flows to what they officially perceive as “not risky”, for absolutely no good purpose at all. 

Don’t you see they just keep inflating the too safe bank assets bubble?