Good morning to you. Today's post relates to heath policy tangentially, through the medium of economics; specifically, the government's announcement later today of its plans for the banking sector.
We have had to become a good deal more literate about the financial sector: the recession has semi-professionalised intelligent amateurs who care about public policy.
Mostly, it has been a very alarming experience to realise that the wealth creation of the past decade has been to a huge extent about leverage and securitisation.
Gambling, basically.