WHO GETS THE BONUS - AND WHY?

When I began this blog I promised myself - and anyone who happened to be looking over my shoulder - that I would never say 'I Told You So'.

So it is with a great deal of self-control that I just manage to adhere to this rule at present. All I will say is that if you care to look at my post of October 10 2007 you will see an accurate forecast of the financial disaster to come.

It cannot be that I have a clearer understanding of global wealth creation than the masterminds of the industry; after all they must be possessed of a good deal of low cunning to have got where they are (or were until recently). The only answer must be that they are much greedier than I am. They've certainly done a deal better out of recent events than I have.

And the solution? I suggested for a start that credit cards should carry much more advice and supervision. The other day I received a new card, carrying a little sticker reading 'Use credit wisely'. Well, it's a start, I suppose.

Perhaps if I gave some more advice it would also be followed. And then perhaps not.