The coalition's response to the Vickers report was a missed opportunity. A chance to reform Britain's banking sector for the better has been hijacked by the Liberal Democrats' need yearning for influence. And so George Osborne has accepted the report in full, though it couldn't be said totally against his own judgement.
One of the leader articles in today's Financial Times is very well-written. It highlights the boardroom failures, and particularly the failure of the non-executive directors, at Lloyds Banking Group.