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    Not the City Keith, just some of the banks. Again the root of this problem is twofold, the Brown regulatory changes that opened the door for them to speculate, specially in the USA increasing their exposure the US toxic debt created by Clinton. Secondly their general over exposure to the debt bubble in the UK caused by Brown's monetary policy based on the inadequate inflation brief he gave the BoE. That is not an excuse for the banks but the situation created by Brown enabled their ill-advised actions.

    Personally I have doubts over whether the banks should have been bailed out but at least when they are fit for privatisation the shares can be sold and taxpayers repaid.

    The big debt problem we have though is the UK government debt that is not related to the banks but is caused by the Brown deficit - borrowing to spend on the current account is not good practice to say the least.

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