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My favourite quote of the week -- from Obama

The US president says he wants to take on the banks

If these folks want a fight, it's a fight I'm ready to have.

* "Badass" Barack Obama, speaking yesterday and (finally!) challenging the bonus-hungry bankers. Is this perhaps one of the positive side effects of the humiliating Senate defeat in Massachusetts?

As the Guardian's Dan Roberts says: "Obama seems to be finally listening to [Paul] Volcker, who has been much more reform-minded than his more cautious advisers in the US Treasury."

And over here, the Tories have promptly jumped on the bandwagon. So, as James Macintyre has pointed out, "Gordon Brown, take note." Once again, free-market, capitalist America takes a lead on economic and financial reform . . .