Ed Miliband is right to threaten the banks | Observer editorial

He proposes that they should be kept on a short leash. It's a start, and will cheer Labour conference delegatesWhen Ed Miliband tells Labour conference delegates that he plans to break up Britain's banks should they backslide on tough new regulations, he is going further than the usual banker-bashing. When he attacks the government, which he argues has capitulated to intense lobbying and let the banks off the regulatory hook, it is not from the easy hit school of political point-scoring.His stra...