I believe all governments are reluctant to act against bankers, perhaps because they have bankrolled them into power, or simply out of respect for what used to be an upright profession. In my younger days I was in awe of bank managers, those people had the power to control how much money I could spend on my children, or what kind of house I could bring them up in.
It took me years to figure out that they were just as human as the rest of us, and just as tempted when a pot of gold floated past, and insider dealing wasn’t even against the law until recent years.
And on those occasions when filling out forms for loans or mortgages, have we always told the truth and nothing but the truth? I admit that I haven’t, and when does an exaggeration become an actionable lie?
That was my earlier point, the world is not a black and white place, bad things happen.
And did Bob Diamond at Barclays not know about the Libor fixing? It’s easy to overlook things when you’re paid ten million a year.