Gillian Tett looks beyond yesterday's Today item on "jurisdiction shopping" by banks. She warns there is an unintended consequence of the current worldwide desire to bash the bankers. Legislators in key countries are busy unilaterally changing internationally-agreed rules. Unfortunately, Tett says, this makes it more likely that practices illegal in one country but legal in another will be used to cover up looming catastrophes in the capital markets.
The recession is looming throughout the world. Federal Reserves, liquidation, bailouts, rates, economic stimulus plans, etc. - all rarely used terms, until less than a year ago. With all this increased tension between the banks, taxpayers and the government, bad gets highlighted and good gets forgotten.
Centre for Journalism investigates, how is it for a small business and how is a business - the Bike Warehouse - on Gillingham High Street holding up to the economic downturn.
