The Most Rev. Justin Welby, the new Archbishop of Canterbury, who sits on the parliamentary Banking Standards Commission in Parliament, has criticised “the culture of entitlement” among London bankers, calling for them to pass professional exams, and advocating the break-up of at least one state-backed institution into smaller regional banks.

Naturally, the not disinterested financial commentariat in the Sunday Telegraph and the London Times, has lost no time in making fun of the Archbishop, a former treasurer in the oil industry and no fooling he economics arena. But they would, wouldn’t they? Journals owned by Murdoch in particular have no credibility when it comes to business and economics.

It makes a nice change for the Epicurean blog to praise the Church of England, which may be losing adherents, but is certainly on the side of the public.

Epicureanism stands against crony capitalism, management greed and incompetence, and the snooty disregard of wealthy bankers for their fellow citizens.