I remain petrified about “too big too fail”. It is a massive systemic risk that must be dealt with and soon. Our country will not grow on the back of “financial innovation”. These innovations are simply zero sum games aimed at rewarding risk averse and financially insulated groups of people. The fact that these institutions, having been bailed out by taxpayers are once again talking of massive bonuses based on their profitability is more than offensive, it’s a huge problem. Innovation must come from sectors of our economy that can grow our capital base in real and sustainable ways.

Let’s all keep our eyes on the ball here.