TJN commentary on yesterday's continued brave stand by Lord Turner. I especially like:
Turner himself noted the vitriol he has received:
"One City practitioner declared himself ‚Äòappalled, disgusted, ashamed and hugely embarrassed that I should have lived to see someone who commands a senior and crucial important position as head of the UK regulatory regime, making such damaging and damning remarks’. Well, I am sorry I spoilt his breakfast.
. . .
I wonder whether this thoughtful soul realises that those sentiments are precisely what some of the victims of this recession feel about the excesses of some specific parts of the financial system."