If you want to see really big time meddling you need not to go to Italian industry.

Sir, Tony Barber makes some good points in “Meddling does Italian industry more harm to good” December 14. 

What a pity Barber cannot find it in himself to make the same point against the really big time meddling regulators who, with their capital requirements for banks based on perceived risk, create regulatory subsidies in favor of “The Infallible” and regulatory taxes against “The Risky”. 

I guess the bank regulators must belong to Barber’s intimate circle, not so the industrial policy bureaucrats. 

By the way, Mario Draghi, FT’s Person of the Year, as well as Ben Bernanke, Lord Turner and other active in regulations of banks, there you have some real big time meddlers, or schemers