Spectator Article About The Crisis

Spectator Article About The Crisis

I haven't read it all, but there is one paragraph here that those who remember Monty Python's famous skit will just groan over:

Crucially, although the recession is now global, the collapse of banks is not. Spain and Canada also had a housing boom, yet neither has a single collapsed bank. Indeed, Spanish banks have been hoovering ours up: Abbey, Alliance & Leicester, Bradford & Bingley, Cahoot and Carter Allen are all now divisions of Grupo Santander. It will not do to shrug and say that no one expects the Spanish acquisition.

UPDATE: What was I thinking? Monty Python, not Mel Brooks.