The relentlessly breathless press coverage of the financial crisis over the past two years may have persuaded the electorate that we have already been through the worst of the recession. The truth is that such optimism is dangerously unwarranted. The economic reckoning for the general public has yet to begin.

Collectively our nation was lulled into a false sense of security by the clement economic conditions that prevailed for a decade from the mid-1990s, alongside a delusional sense that the good times would be here forever.

Such colossal sums of global taxpayers' money have been spent and immense government guarantees continue to underpin the financial system that it is remarkable how little agreement exists to what constitutes the point at which the banking industry can be said to be fixed.Less still is there any emerging consensus as to the ideal future landscape of the financial services world.This is no mere academic issue. The imperative to start repaying borrowing at the earliest opportunity cannot be overstated...

Open competition is an absolute necessity as the ultimate consumer safeguard. Last month I concluded that government should give serious thought to adapting the role of the Serious Fraud Office and implementing a new, radically improved US-style system for the investigation and prosecution of financ...

Despite grandstanding galore from politicians, there is a growing unease at the paucity of substantial change in the aftermath of the financial crisis. Nowhere does this resonate more than in the field of enforcement....