Does recovery of the economy depend on City?

Published: 8:17 AM August 5, 2009 Updated: 3:59 PM November 7, 2020

SIR - Relating to Stephen Crowther`s letter of July 15. Is the unparalleled expertise in the `City upon which the recovery of the U.K. economy depends the same unparalleled expertise that led us into this mess in the first place by risky lending to peo

SIR - Relating to Stephen Crowther`s letter of July 15.

Is the "unparalleled expertise in the `City upon which the recovery of the U.K. economy depends" the same unparalleled expertise that led us into this mess in the first place by risky lending to people and institutions with no hope of repaying the loans, and chasing short term share value rather than long term prosperity; rather than, as in Germany and Japan, supporting domestic industrial concerns that actually produce something?

Andy Taggart, Northam