Another week of Banking to come...

As if plenty of people are not bored with banks already, after last Friday's Lloyds/HBOS announcement there is more to come this week. Paul Moore has more which might undermine Gordon Brown further, if that is possible and speculation like this, on RBS will continue.

The last couple of weeks was interesting as the short sellers cleared out of the UK banks and the share prices recovered somewhat. It will be interesting to see if they dive back in on the Lloyds/HBOS news of whether the risk of nationalisation keeps the stocks too toxic even for short-selling.

And then there is the bonus row, which surely can't last much more of the media cycle as it is getting very tedious now...

Wrong about the Treasury committee

Here was me thinking this morning that the bankers would smooth over any inappropriate talk, say sorry and disappear back to their mansions to live in champagne and shame.

How wrong I was, for Paul Moore's letter is pure dynamite; It is reported at length elsewhere.

The nub is though that HOS was brazen in trying to avoid whistleblowers. This has scandal like Enron and Worldcom written all over it.

Moreover, we warned last summer about the insanity of appointing the ex-HBOS head as the man to advise Gordon to save the UK financial system. Crosby was one of the blind leading the blind; he is not the man to lead us out of the desert.

This story will run and run; Crosby or his report cannot survive credibly.