The Chancellor should have stuck to his guns, and done the fair thing for the British people - regulate and tax the banks properly. As it is, the Bank of England & Financial Services Bill signals a major retreat by the Chancellor from what was until now his own policy. Thus, whilst he stands firmly behind his failed austerity (National Debt up 60% in his six years in charge), he is going soft on banks.
It would be dangerous to presume that everything is now just fine with our banking system. It is a huge risk to assume that it's safe to return to 'business as usual'. Politicians who believe that all we need to is to return to 'letting the bankers get on with it' may come to regret taking this view. But with memories of the 2008 banking crisis fading in some quarters, it seems that the Conservative Government thinks it can start to undo that good and necessary work.
Domestic violence is often more than physical violence alone. A physical assault can be easy to identify but other ways of controlling a person are more insidious and can be harder for victims to recognise. This is often because these controlling behaviours are so embedded within normative beliefs about the roles of men and women. Financial abuse falls into the latter category.
What is it about the Gleneagles Hotel and the Scottish banks? Is there something in the water at the opulent 1920s Perthshire spa and golfing resort - or perhaps in the generous single malt Scotch whiskies that are often served there - that causes Scottish bankers to lose their minds and embark on crazily ambitious growth plans?
Antony Jenkins was a breath of fresh air when he took the helm at Barclays three years ago. His humility and and commitment to change were in stark contrast to the brash arrogance of his predecessor Bob Diamond. He was one of the first big bank CEOs to talk seriously about cultural change and, more importantly, his words followed through into actions.