AR: Not enough. We may, over time, get our money back as taxpayers when these banks eventually recover. But that's way off. I quote the study by Cresc at Manchester University. They calculated that our exposure to the banks is far in excess of all the tax paid by the entire City in the five years leading up to the crunch, it's much, much more money. We ended up with these disproportionally large banks — RBS alone had assets and liabilities on its balance sheet bigger than the entire economic output of the country that has to underwrite it. There was some fiddling around with regulation and bonuses but nobody — the Tories haven't either — addressed the macro strategic decision facing the country: do we want one sector, namely banking, to be such a large bit of our economy? It's very hard for politicians to turn around and, as a deliberate act of policy, shrink this sector down to a more manageable size. They certainly should have been putting the old firewalls back in, to separate retail and casino. I never believed what they always say in the City, that it is too complicated, that in the modern world you can't do it. These are the people who turned dodgy mortgages into such complicated instruments that none of them could understand them, then they say that you can't legislate to separate casino and retail. That's one thing Tony and Gordon, all that time, never fought over — partly because Tony wasn't economically literate. Money was gushing in so the Prime Minister did not bother asking any awkward questions about where the money was coming from.