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This post covers a number of posts - Carney, Bank regulation, leverage etc etc ' Despite the 2007-12 UK finance-cum-macro catastrophe and its ongoing aftermath, the size and role of finance remains all but absent from British political debate. ' http://ftalphaville.ft.com/2016/10/31/2178445/guest-post-dogs-not-barking/ The salient point is the UK finance is about 4 times bigger than the states, relative to the size of its economy. There's lots of noise and chatter about IR and whether they should be higher. But nothing on the leverage in the UK finances. Weirdly, Mervyn King comments (quietly) on this. Stuff like having the clawback and reducing leverage (and power) of the UK finance sector. 'In particular, it should now focus on driving up capital requirements and undoing the Bank of England’s dual promotional and regulatory mandates. Such engagement will not suffice to prevent misfortune, as the US itself demonstrates. But we have tried the alternative. British dogs should be howling.'
