I remember exactly where I was on that sunny day in 2007 when it was reported that inter-bank lending had frozen. Bankers knew that their peers were bust, and could not be trusted to honour their obligations. I then naively believed that friends would get the message. I also hoped in vain that the economics profession as a whole would add its voice to those few that warned of catastrophe. Not so. Apart from readers of the Financial Times, and of course some speculators in the finance sector