Sir David Walker, a former regulator and someone who in the past would have been described as a City grandee, will today publish his prescription for how the so-called governance of banks can be improved.
Governance is the sententious word for the structures and rules for institutions that are supposed to prevent them doing the wrong thing.
And since banks all over the world in the years before the credit crunch did the wrong thing on a scale that was without any precedent, there must surely have been a collective failure of governance.
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