Don’t be fooled – all the banks win yet again

The government’s breakthrough in the rate battle is pyrrhic if lenders still get a 4 per cent margin

Many years ago, I spent a summer working in Canada, where the national hero at the time was Wayne Gretzky, the brilliant ice hockey player. Gretzky was so good that when he retired, his number – 99 – was retired from all North American professional hockey teams.

His most famous quote followed a simple question from a commentator about why he was so successful. Gretzky didn’t even think, he just responded as if ...