ABSTRACT
The financial crisis continued unfolding in early 2011 in a way that promised trouble even if the oil markets were able to deliver affordable oil. In early March, Bank of England Governor Mervyn King warned that the markets were at risk of another financial crisis, unless banks were reformed. Many warning-watchers were by now becoming exasperated. ‘Weren't regulators supposed to act as well as warn?’, I heard many times at this point. Kingfisher CEO Ian Cheshire, a respected captain of the FTSE 100, was particularly blunt. ‘We need a radical reappraisal of capitalism’, he said. 1
