The unedifying spectacle of bankers scrambling to withdraw tracker mortgages in the wake of The Bank of England rate cut from 4.5% to 3% and ‘reluctance’ to pass the interest rate cuts on to businesses and individuals was followed by the threat of government action. Chancellor of The Exchequer, Alistair Darling, told bank bosses who argued that “they desperately needed to rebuild their finances” (some banks on taxpayer money) that they had no choice. This is a most satisfactory result for us – and a dreadful result for bankers. As Bob Dylan said…. “The times they are a changin’…..”. Excellent.