The darkest hour is just before dawn (TT Nov08 p14-16)

It is inevitable that the financial sector will have to submit to tighter regulation and possibly a return to a Glass-Steagall type of structure. Sadly, the sector has shown that it cannot be trusted to cope with the conflicts of interest that integration engendered. In addition, banking will become a duller and more staid existence, with innovation discouraged. It may even cease to be a career destination for the brightest young graduates.