Okay, slight exaggeration. Neither did Gordon Brown “Save the World”, but now that the dust is settling on yesterday’s part Nationalisation of the Banks – the “commanding heights of the economy” (or Reverse Clause 4 Moment as Tom P puts it so aptly) we can see that there has been a massive failure of capitalism.

Don’t get out the barricades yet comrades, as I am certain that the economy will recover – it always does. Spectacular collapses in markets is after all the nature of the beast. Whether it’s Tulips, South Sea shares or toxic sub-prime mortgages, its meat and drink to capitalism. Of course who knows in Politics, maybe something else is happening, I doubt it, but this is one of the reasons why it can be exhilarating at times.