Another financial crisis threatens unless tougher banking regulations are introduced and borrowers learn to live within their means, the Association of Christian Financial Advisers has warned. ACFA Aidan Vaughan attacked the more aggressive activities of investment bankers, namely credit derivatives, as he warned that unrestrained investment banking activities could lead to even bigger financial crises in the future. ‘ACFA strongly encourages Mervyn King, the Governor of the Bank of England, to stand up to the banks,’ he said. ‘The public is angry especially when they see bankers again earning huge bonuses when it is tax payers’ money that has rescued the day. For most people, taxes are rising, wages are static, inflation is rising, living standards are falling and government expenditure is being cut dramatically. The basic biblical principle of ‘spending less than you earn’ has been ignored on a massive scale.’ Pray:for the banking industry to adopt an open and fair approach to their role in the economic life of Britain. (Ps.15:5)