Having been in the belly of the beast, and had a few years since to put my experience into context, I have no hesitation in saying that the City has become increasingly parasitical to the extent that it is in danger of killing its global host.

The City - in its current bank-centric manifestation anyway - IS the Anglo Disease.

It increasingly does not add Value, but extracts it form the UK's "productive" sector and from every other country it battens on to.

However, a change to City hegemony is already under way, and value-extracting financial intermediaries who do not make the change to value-adding service provision will shortly end up on the scrap-heap.


"The future is already here -- it's just not very evenly distributed" William Gibson