FT, again you just talk about banks and stability, not caring about whether banks serve the real economy well.

Sir, I refer to your “New normality for banks leaves system exposed” December 31.

You write: “The US balance of corporate finance, with three-quarters of funding scured through markets and only a quarter through banks is seen as a model for Europe, where the current structure is the inverse” and yet you seem not to care one iota whether Europe’s banks are allocating their credit efficiently to the real economy… only that “the world urgently needs to develop more effective financial stability policies.”

Though you know very well that the credit risk weighted capital requirements for banks are what distorts bank credit the most, you just mention “the distortive effect of extended low interest rates”.

Again you behave like a pensioner with a not too long life expectancy, begging banks “please be stable and do not take any risks”, while not caring about whether your young can afford such risk aversion. That is a far faraway from “Without fear and without favour”.

Sir, what happened with your “Banking cannot prosper within a culture of fear” editorial of September 24? Did someone reprimand you about it being too fearless?

@PerKurowski ©