Consequences

When I was young, the head of our school was always yapping on about consequences. Whatever you did in life, and particularly in that school, would have consequences.

I am kind of wondering how it is that we are lost in a fit of hand wringing about financial industry reform.

What these people need is clear consequences to associate with their actions. Le'ts face it, they have been behaving like children, hands in the sweet jar while Mummy isn't watching.

And just like children they have been unable to stop themselves. They have gorged beyond any point of enjoying it, and made themselves sick. Economists tell us that consumption of any free good will be pursued until marginal utility is zero. These guys pushed marginal utility well into negative territory.

Perhaps they lacked the stout sort of upbringing I had, where a few years in a prison cell with your OWN TELLY looked like paradise compared to five minutes locked in a confined space with an irate father.

Either way, there need to be consequences. The minute a few of these guys are pictured, Jonathan Aitken/Kenny Lay/Conrad Black like on their way to prison, behavious WILL improve.

Unless that happens, they have got away with it. And like with all naughty children, that means they will carry on regardless.