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 BBC is the neighbour at the end or your garden with a giant leylandii. He smiles at you and is a nice enough bloke. But the problem is his tree. It’s too big. It greedily sucks in nutrients from the soil and blocks out the sunlight. It’s an impressive tree by any standards, but it casts a massive shadow. And in that gloomy, publicly funded shade, other peoples’ plants struggle to get a foot hold. Some wilt and die. For years the community’s been talking about what should be done. Some people want the eylandii to be severely lopped.
Mark Thompson, the Director-General of the BBC, is to deliver the second Bob Friend Memorial Lecture at the Centre for Journalism in March.