Political leaders have access to the very best of advice and analysis. They should have seen the greater part of this fiasco coming a long time ago and taken steps accordingly. Gordon Brown is posturing as some sort of superman but in actual fact he should be pilloried because he did nothing.

Jim, Auckland, New Zealand

Such legislation exists. Bank employees who lend knowingly to people unable to repay just in order to boost their own commission are guilty of fraud. So are directors who withdraw funds from firms they know to be insolvent before publicly declaring them so. The authorities CHOOSE not to prosecute.

Eric Skelton, cardiff , wales

I would like to see legislation introduced which confiscates the personal and family assets of the speculators who induce the demise of major institutions, and leave the rest of us swinging in the wind carrying losses for which they are responsible.

Sceptic, Perth, W.Australia