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Comment, analysis and other offerings from Thursday FT,

Martin Wolf: Asia’s revenge
The crisis demonstrates that the world has been unable to combine liberalised capital markets with a reasonable degree of financial stability. A particular problem has been the tendency for large net capital flows and associated current account and domestic financial balances to generate huge crises. This is the biggest of them all.

Philip Stephens: A return to sobriety
The surreal scenes in the Commons – David Cameron and Nick Clegg assuring Mr Brown of the support of the Tories and Liberal Democrats alike – spoke to the way the crisis has transformed the dynamics of domestic politics.

Gillian Tett : A shift from bumbling to sensible policy
During much of the past year, British financial authorities have looked like Bertie Wooster, bumbling amateurs in the face of the banking meltdown. Now, finally – albeit belatedly – they have got something right. Alistair Darling, UK chancellor, on Wednesday announced that the government would spend up to £400bn underpinning the banks. The only thing more startling than those dazzling zeroes is that Darling is now overseeing a policy package that is arguably more sensible than anything else emanating from the western world.

Jonathan Guthrie on a rebirth of the British bank manager
This reborn Mr Mainwaring embodies the traditional virtues that retail banks need to reclaim to regain the confidence of Britons. The relationship they forge with enterprise, alongside their bond with mortgage borrowers, will be a litmus test of success or failure of the bail-out.

John Gapper says derided capitalism can still do good
For a few years, there will be less tax to be avoided by setting up foundations and less money to show off one’s generosity. But the growing disparity of incomes that has produced the boom in the super-rich is not going away. Nor is the need for governments to fund new hospitals or museum wings by turning to those with deep pockets.

Willem Buiter - Nice one, Cyril!
The fact that the Chinese monetary authority and a key GCC monetary authority participated is of great symbolic significance and marks the accelerating shift of global financial and economic clout to the Far East and the Middle East.

Robert Shrimsley tours the economic cabinet war room
As we descend into the labyrinth you will see the walls piled high with boxes of cheap meat pies purchased from Lidl. Ministers and officials were often spending nights down here and the prime minister was determined they got value for money. Sometimes if they were lucky they might get a luxury hamper from Morrison.

Letters to the FT
Icelandic bank collapse raises questions for UK
Common sense is always eclipsed by greed
Ban more things - starting with BBC financial reports

Video
Banking editor Peter Thal Larsen
City editor Andrew Hill