There are criminal investigations into the events of the recent financial crisis. The two managers of the Bear Stearns hedge funds that blew up in the summer of 2007 have been indicted in Brooklyn, and more cases in other venues and more charges against executives will certainly be brought.
In a column last week, I noted how Nicolas Sarkozy was a master at signalling left while turning right. Well, in his keynote address to both houses of parliament today, the conservative president went a step further. He summoned up the burqa to camouflage his real intention -- relaunching a drive to reform France's ossified social, education and tax system.
It is somewhat strange that a disgraced elected official has now repositioned himself as an expert commentator on financial regulation, but that is exactly what Eliot Spitzer, the former New York governor, has done. His most compelling article for Slate to date is a critical look at the Obama administration’s proposed financial overhaul.
Did Mervyn King miss his true vocation? Last night he compared the Bank of England to a church – with the Governor as the priest – as he took to the Mansion House pulpit to pour a rhetorical bucket of cold water over guests at the Lord Mayor’s banquet.