“Of all the many ways of organising banking, the worst is the one we
have today. … Change is, I believe, inevitable. The question is only
whether we can think our way through to a better outcome before
the next generation is damaged by a future and bigger crisis. This
crisis has already left a legacy of debt to the next generation. We
must not leave them the legacy of a fragile banking system too.”
–Lord Mervyn King, Governor of the Bank of England 2003-2013