So George Osborne has at long last realised we need a state owned investment bank.
First, why did it take so long?
Second, will he now realise that supply side reform simply does not work? It has not with the banks.
Third, will he now admit the state can and must pick winners? The Olympics is clear evidence of that.
Fourth, let's just hope he does not give control straight back to bankers.
Fifth, why doesn't he just call it Royal Bank of Scotland and buy out the remaining private shareholders there?
Sixth, will he please give it enough cash to make a difference? I note how, here.