Well, here I am in Washington, sitting in the House financial services committee room, listening to the House representatives laying into the Wall Street bosses. We have now taken a break for lunch and so far, US politicians have proved less fearsome than British ones.

When the former bosses of Royal Bank of Scotland and HBOS appeared before the UK Treasury select committee this week, they received an undiluted dose of scorn and criticism of the kind in which British members of parliament specialise. Read more