Libor scandal holds lessons

There have been deep suspicions for years about Libor (the London interbank offered rate), and the system used to set it. It has been clear in financial markets that Libor did not reflect real borrowing costs, because of the big discrepancy between Libor


Split up the banks – and do it properly

Does anyone seriously believe that a system that depends largely on the good faith of investment bankers will be sufficient to protect savers and taxpayers from future banking crises?


Private banks have failed – we need a public solution

That's been the pattern of the past few years as Britain's establishment has lurched from the disaster of the Iraq war to the disgrace of parliamentary expense fiddling and media phone-hacking (though in the case of Iraq, the only heads to roll


Tax Avoidance Boon or Bane

The recent Times series on tax avoidance has triggered a huge spike in coverage of the tax affairs of the rich and famous.