Animal Spirits still alive in City

Anyone who doubted that the credit and market crisis of the past two years has put a lasting dampener on the animal spirits in the City of London will have received a great surprise when he opened today's papers. A respected analyst is reported to plan the launch of a new bank and a senior corporate banker is offering to buy loans off his previous employer at a substantial discount. The really interesting thing is that the analyst stuck to his negative view on some bank shares while theses shares experienced a stratospheric recovery and the lending officer was one of the main drivers behind the loans that are now causing major headaches for his former employer. That is chutzpah!