While the banking sector continues to flounder amid increasing regulatory scrutiny, London is once again at the forefront of financial innovation as a number of young companies forge ahead in trying to solve many of the pressure points associated with standard banking products.
In 1999, T.V Smith, founder of the pioneering punk band The Adverts, sang "And I pay more for my food 'cause the supermarket's too far... It's expensive being poor because everything costs more." He had a point.
Today's evidence from R3, the insolvency practitioners, that the rapid and rabid growth of Britain's payday loan industry is leading people to go hungry in order to repay these debts, is saddening but not surprising to me.
We must concentrate on the causes as well as the symptoms of the financial crash, debt and poverty in the UK. But this in no way means we should not criticise Wonga and pour scorn on Newcastle United for accepting their cash and granting them more legitimacy.