P
eople have been talking a lot about a loss of confidence in politicians as if that portended the end of the world.
Well, last weekend people were reminded that compared with a loss of confidence in bankers, a loss of confidence in the likes of Brown, Cameron and Menzies Campbell was very small beer indeed.
Another lesson, too, should also have been learnt; that we haven't really lost confidence in politicians at all. For in times of genuine trouble, like a run on the bank, we still look to them to come to the rescue; and not in vain, as the many investors in Northern Rock now have cause to recognise.
As one of them myself, in quite a major way - not so long ago I placed the proceeds of a house sale in their hands - I shall never forget the feeling of gratitude I felt for the Chancellor when he promised every
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Peregrine Worsthorne
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Bankers have become the guardians of our faith, but when disaster looms we still turn to the politicians
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penny in the bank would be safe.
But it has to be admitted that the extent of my panic while it lasted was disturbingly terrible. During three nights I could not sleep a wink.
In the Victorian age it was loss of religious faith that kept people awake; now it is the loss of a nest egg. Such materialistic thoughts only added shame to my fear.
Possessions should not have been allowed to loom so large.
Yet they do. Dread of impoverishment in this world has taken the place of dread of eternal damnation in the next, to the point where financiers, who protect our riches, have assumed the importance of priests who once took care of our souls.
Never again, therefore, will I flick through those financial pages. Ask not for whom those City bells toll, they toll for thee! 
FIRST POSTED SEPTEMBER 19, 2007
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Stagflation threatens to make a comeback
Northern Rock: the madness of crowds
Worsthorne: looks count for more than race and class
