FT, you´ve forgotten that unencumbered risk taking brought you the banks (and your Britain) to be proud of.

Sir, in “Reforming British banking after Libor” July 25, you, like seemingly Lord Turner and Sir Mervyn King too, show yourself unable to understand that you would never ever have had any British banks to be proud about, or even perhaps a Britain to be proud of either for that matter, if your banks had had to operate with regulatory bank capital requirements based on perceived risks, based on risk-adverseness. 

All banks that have grown to be important have always been allowed to manage their risks unencumbered, without some silly meddling nanny regulator assigning risk-weights for them.