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.
Observing the chaos of the East Grinstead branch of Woolworths, shoppers bustle past in a frenzy on this busy Saturday afternoon, arms full of goodies, trying to acquire as much as they can in the pre-Christmas bargain season where offers blanket every shelf.
