From Nick Clegg’s website:

Liberal Democrat Leader Nick Clegg today called for the Government to issue a temporary guarantee for all deposits in the British banking system:

We are now in the eye of an economic storm. We have seen the dreadful effects of the bonus culture in the City that has led banks to take unacceptable risks for short-term gain ahead of long-term stability.

If we are going to reverse the greedy banking culture that went on for too long, we need to start at the top. This means an end to all bonuses for boards of directors in British banks that

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Good if very succinct analysis over at MyDD: overwhelmingly those in close races for their re-election voted against the bail out.

Society – broken or not? Looks like someone can’t make up their minds:

• Cameron retreats from his claim that Britain has a ‘broken’ society (Independent)
• BBC must help to heal the broken society, say Tories (Telegraph)

From The Independent:

All the building societies that transformed themselves into banks quoted on the stock exchange between 1989, starting with the old Abbey National, and 2000, when Bradford & Bingley took the plunge, have either failed or had to be rescued. Following Bradford & Bingley’s demise, there is not one left.

Meanwhile the building societies which resisted the temptation, such as Nationwide, Britannia, Yorkshire and 56 others, have gone on doing their core job of providing home loans for ordinary people. They have been virtually untouched by the financial crisis.

You can read the full story here.

Keith Vaz is already facing an investigation over allegations that he interfered in a court case to help a Labour Party donor, and now is also facing allegations of secretly letting Gordon Brown influence the outcome of an independent inquiry into 28-days detention:

Keith Vaz, the chairman of the home affairs select committee, sought the private views of Gordon Brown for an independent report into government plans to extend the detention of terror suspects beyond 28 days.

Emails which have been seen by The Observer suggest that the MP for Leicester East spoke secretly to the

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