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“The really successful work in England tends to be working-class writers telling working-class stories. The film industry has been slow to wake up to that, for a variety of reasons. It still shocks me how few films are written or made in England about working-class life, given that those are the people who go to movies.”

“From the 15th century to 1688, England and Wales, like Scotland, had been peripheral kingdoms in the European power game, more often at war with each other that with Continental powers, and - except under Oliver Cromwell - scarcely very successful on those occasions when they did engage the Dutch, or the French, or the Spanish.”

“Medieval England was a great military power with a sophisticated machinery of government, but her naval administration, at best improvised and for long periods missing altogether, pointed to a grave weakness: the lack of any reliable means of putting a force of warships at the disposal of the crown. Only Richard I and Henry V of all the kings of England can be said to have understood the problem and attempted to remedy it. It is no coincidence that they wer by far the most successful in war.”

“However, you have to recognize that regulations will never be completely successful and they will always be full of holes. You must constantly be ready to fill new holes. Actually regulation should be kept to a minimum, but there has to be some cooperation between market participants and authorities - as was the case in the early postwar years. The Bank of England was a very successful regulator by cooperating with market participants. This cooperative spirit was broken by the market fundamentalists.”