Banking Reform

I listen with amazement to Angela Knight and her explanations of bankers as a separate caste, why it was not the fault of the bankers they lost all that money, why PPI was not really a rip-off, and why above all they deserve to be paid vast salaries.

Over the last 40 years the banks have lost fortunes in a variety of creative ways: 1) lending to African and South American dictators in the 1970s, money immediately siphoned off to Swiss accounts; 2) becoming 'one-stop shops' for all things financial and property in the late 1980s, buying estate agents and insurance companies for inflated prices, selling them off shortly afterwards for a fraction of same; 3) during the dotcom boom lending to sure-fire winners like spendcashgobust.com, and uselesstossers.com; 4) finally finding a way to trade pigs-in-pokes by creating derivatives they were unable to value, some based on lending to Billy-Bob-Jim-Joe in Arkansas so he could buy a large house, though he never had any hope of paying for it.

The banking market has failed, not only because banks have enjoyed in effect state guarantees on their bets, but because most of those at the top will have been involved in at least two of those fiascos but kept their jobs.

I Don't Like (Bank Holiday) Mondays

Raspberries coming thick and fast now on the allotment, yesterday's picking with same weight of our own cooking apples now three jars of sharp jam. Breakfast in bed this morning consisted of proper coffee and a couple of slices of toast spread with the new preserve. Everyday luxury, especially given we had the time to relax and savour it.

Why did Sir John Lubbock go for Mondays rather than Fridays when he introduced Bank Holidays? Doubtless because offices and factories used to work on Saturdays, but why can't the whole lot now be changed to focus on Fridays instead? Monday even sounds dreary with its low 'uh' vowel sound compared to the jaunty 'i' at the end of the working week.

We hardly ever venture out on BHMs, knowing both traffic and rain are always around the corner. So we'll celebrate with a family feast of sorts tonight: the chicken liver pate is made and cooling. With the addition of some breadcrumbs, two of our eggs, an onion and three cloves of garlic we'll have about 1kg for £3, half for consumption this week the rest for the freezer. Eco in Northern Eco means economy as well as a certain respect for the environment. The chocolate cake (as the oven was already hot from making the pate) will be ready in 10 minutes, thank you the blessed Delia. And turkey fricassee - such a lovely word fricassee - will be quickly done tonight when needed.

Counting home-grown veg as free that makes three courses for about £6.50 Roughly the price of the bottle of wine from the ever excellent Artisan Wines that will accompany it. Opened a bottle of Gamay de Bouze from them yesterday and it was very good indeed as we have come to expect.

Pity the BHM weather is equally consistent, a few hours of sunshine would have given that extra lift to the proceedings. Bet Friday is a scorcher.