July 07, 2012

FT is not covering itself in much glory either

Sir, in “Nursery politics and Libor fixing” July 7 you urge politicians to “ensure that credit flows to the real economy” and yet you refuse to advance my argument that the “real economy” cannot be advanced by capital requirements based on perceived risks, since these have nothing to do with it.

You cry out for politicians to engage in “serious debate” and not act “little more than a pair of bickering schoolchildren”, and yet you feel yourself authorized to silence one of the very few voices you know alerted about the crisis, even in FT, just because that could hurt some weak egos of some FT prima-donnas.