Government must resist temptation to nationalise banks on the run

TO say we live in interesting times somehow doesn’t capture the enormity of the events in the global financial system.

Market capitalism as practised for the last couple of decades will never be the same again. ‘Never’ might be too long, so let’s say it won’t be the same for a very, very long time.

Like you, I imagine, I haven’t been watching the news these past weeks exactly wiping away tears at the thought of bankers having their Ferraris repossessed. It’s the people on less than €500 a week getting the chuck who deserve our sympathy.