The great difference between then and now was that Barings was a partnership, and the partners who were family members, were personally liable for the losses, down to the last penny.

When Barings went bust, the family sold their dogs, horses, and wine cellars.  They felt obligated to repay the debts.  It was a matter of honour to repay the debts.  And as a result the reputation of bankers was enhanced, rather than diminished, by the way they behaved in a crisis. 

Where are these gentlemen of honour, who accept personal liability, today?  So far, I haven't heard a single banker accept personal responsibility for the mess we're in.

Now that we are globalised, it's easy to dodge the blame for personal behaviour. To listen to the top 19 banks' CEOs in the US, you'd think the bankers were innocent by-standers of this crisis.

Does anyone see bankers today selling up to repay their banks debts?  Dream on.

Men of honour, especially when it comes to banks, are thin on the ground these days.  And they're more likely to be making a fortune for themselves on the rebound in the market.  I don't trust them for a moment.  Banking today is synonymous with greed and avarice.  What a state of affairs!

The other night at dinner, Georgie G. ranted about how angry he is that a bunch of testosterone-driven traders and greedy bankers have ruined our futures.  For the rest of our lives now, we'll be trying to get out of this mess they've created for us.  Our children will have difficulty finding jobs, and probably can't afford houses.  We'll be trying to make ends meet, and we'll have to cut back on living expenses, travel and all leisure activities. What a mess.  We have to forfeit our comfortable retirement years, and all we've worked and saved for because of the greed of others.  I'm angry, too!