Did hear about last Tuesday evening's speech from Mervyn King, governor of the Bank of England? He really did let the anger out.

He said that never before has so much been owed by so few to so many. He finally said what the politicians should have been taking all along Pointing out the fortunes that are being made whilst the ordinary taxpayer underwrites the risk.

He mocked the pathetic act of trying to force bankers to restrain their risky behavior and big bonuses by using more capital, which was championed by the FSA at the time. But surprise surprise those endlessly resourceful, inventive and deceptive financiers just run rings around the finance regulations agents.

Then he hit the nail on the head. He said that if the system as it is not working because the banks are so big that when they hit trouble they need to be bailed out by the taxpayer. If once bailed out they do not appear to have learnt their lessons and are still taking risks with, let us face it, taxpayer’s money, whilst not even helping out those taxpayers in return. Then the large national mega banks should be broken up. The risky unsound and speculative parts of these banks should not be connected to the parts that lend money to business and consumers.

The gambling side of the banks business should be separated out and if their risks then blow up in their face then it is only the risk taking bankers and their shareholders that suffer, not everyone else. They would not get any bailouts and then part of the banks that loan and work with businesses and consumers on a daily basis would be safe and unaffected. This happened in the US just after the 1929-1933 stock market crash, no longer could banks underwrite stocks and shares.

www.local-business-finance.co.uk helps small businesses around the UK to find the finance they need to keep going despite the recession brought about by risky bankers.