Discredited

ROGUE traders and fancy derivatives make fat and striking headlines. But the biggest bank killer is as old as banks themselves: the humble loan. From poor countries to property deals, unwise lending all too often cripples banks and empties the public purse. So a nifty new piece of software written by J.P. Morgan, an American bank, ought to bring smiles to the faces of taxpayers everywhere. It promises to help bank bosses manage their lending risks better.