A lawyer acquaintance told me last week that his firm was surviving the slump in corporate work thanks to a sharp rise in litigation. It seems that whenever the economy gets difficult, people start falling out with each other, and often the row ends up in court.

Sometimes this is because we want someone to blame for the problems. And one means of getting back at those we think are responsible for the mess is to sue: bank directors, mortgage lenders, investment managers, real estate valuers, rating agencies – whoever. These sorts of claims are highly unlikely to generate any cash proceeds, but I suppose they may bring the plaintiffs a small measure of moral satisfaction. My view is that such actions are a waste of time and money, and only the legal profession wins. As Luke, Chapter 11, verse 46, says: “Woe unto you also, ye lawyers: for ye lade men with burdens grievous to be borne, and ye yourselves touch not the burdens with one of your fingers.”