Payback time

I am fascinated by the phrase "mathematicians who possessed brilliant minds but were devoid of common sense" ("The mad world of shadow bankers", 20 October). Was it common sense that they lacked, or basic morality? It must have been evident to anyone with a "brilliant mind" that this exercise in obfuscation was doomed to eventual disaster. It relied upon the weak majority being tempted by bankers and new Labour into wishful thinking and closing their eyes to a simple fact: debts have to be repaid. It now appears that we shall all have to pay - including those of us who struggled to repay our mortgages quickly an era ago and have never borrowed a penny since.

Gerry Myer

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Just recently Google has brought out with a great deal of alterations and improvements to their prominent search system, including Googles Knowledge Graph Release. Read More...

This article first appeared in the 27 October 2008 issue of the New Statesman, The death of Gucci capitalism