Today marks the 10th anniversary of Basel II, Europe´s economic Waterloo, or financial Kristallnacht, and FT does not care.

Sir, on June 26, 2004 the G10 approved Basel II.

With those regulations some few unelected regulators who felt they knew more about risks than the rest of the world, and since they hated credit risks, decided to allow banks to hold much lower capital when lending to the absolutely safe than when lending to the risky.

And that meant banks would then be able to earn much higher risk adjusted returns on equity lending to the absolutely safe than when lending to the risky.

And so from that day on, all bank lending to medium and small businesses, entrepreneurs and start-ups started to dry up. And since it is precisely that kind of bank lending that which helps an economy to move forward, from that moment on the Western world economic bicycle started to stall and fall.

And all that, for no good “stability” reasons at all, since the real monsters that always threat the banking sector, are never ever those that look ugly and risky, but always those that look so adorable and safe.

And since Europe was the one who embraced Basel II the most from the moment go, to me, June 26, 2004, represent Europe´s economic Waterloo, or its financial Kristallnacht, a pogrom against the risky risk-takers, those who had helped Europe become what it had become.

And today June 26, 2014, it is with much sadness that I see Europeans do not really care. For instance, the Financial Times, presumably the most important financial paper in Europe, does not even mention the fact of the 10th anniversary of Basel II.

That same day the Basel Committee appointed a new financial Master Race... those stamped with an AAA rating, and gave it privileges... and you still wonder why inequality is on the rise?