Some historical posers. Who said, and when: “We expect the major clearing banks to co-operate with us fully on these reforms, in the national interest. However, should they fail to do so, we shall stand ready to take one or more of them into public ownership.”

It was Michael Foot, I am reminded by the political blog Guido Fawkes, in the 1983 Labour Manifesto, the so-called “longest suicide note in history”, which kept Labour out of power for another 14 years.

And who said: “Gentlemen ... I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin!”

Andrew Jackson, US President, in 1832, before some much-needed banking regulation.

And Tuesday October 7, as Darling prepared his package, was the seventh anniversary of what? The nationalisation of Railtrack. That went well, didn't it?

Funny thing, history.

Rock and role

My attention is drawn to an ad on the website of the headhunter Whitehead Mann. The Financial Services Authority is seeking a “head of credit risk” at this “uniquely challenging time” to create a new credit risk team.

“Solid knowledge of financial economics with an emphasis on risk measurement methodology” - yes, I can see that might be useful. But shouldn't they already have a head of credit risk, ideally already endowed with the above skills?

Someone at the FSA kindly takes time, in a horribly busy day, to explain to me that this is part of the post-Northern Rock shake-up. Northern Rock is a year past. It does seem to be taking a bit of a time ...

Online wine

Spotted - a wine-tap device that plugs into a USB port on your computer. There is a good selection of wine available online, and once ordered, it arrives on demand. It will even print out a label for the bottle. I want one! What do you mean, it isn't real? It's on the internet.

Cold shoulder

Teather & Greenwood, which this year changed its name to Landsbanki, has solemnly informed us of its wish to be known henceforth as Teathers, ahead of a change of ownership.

Some cheering in the market. But my inquiries fail to discover just why it was so suddenly no longer deemed appropriate to carry out a business in financial services under the name of a collapsed Icelandic bank.

Don't call us . . .

All this upheaval is playing havoc with people's diaries. I can understand why last night's lecture at Cass Business School with Alistair Darling might have been cancelled. And I rather suspect that Kitty Ussher will not be at a seminar on credit at Bloomberg next month. She lost her job at the Treasury on Friday.

Scotch mist in Panama

It seems to be the day for learning lessons from history. I am reminded that the reason the Scots first joined the Union was the disastrous decision to settle a colony at Darien, on the Isthmus of Panama. Much of the Scottish middle class were bankrupted by this harebrained scheme, which collapsed in a mountain of debt.

Sounds familiar? The prime mover behind Darien was Sir William Paterson, who earlier had founded the Bank of England but failed to persuade the English to fund Darien. He had better luck among his fellow Scots. And before their descendants point it out, yes, I am aware that one reason the scheme foundered was because the English Navy blockaded it.

Anyway, since Scots now want their independence back, perhaps they could take Royal Bank of Scotland and the Bank of Scotland with them?

Outraged e-mails to the usual address, please.

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