We cannot have it both ways. Either government makes use of the expertise that former bankers and other financiers can bring to bear, or it draws only on professional politicians and paragons. Expressing outrage at the legitimate activities of those appointed for their financial expertise risks undermining those who take up such posts and deterring others from putting their talents at public disposal.
Hiring poachers to become gamekeepers means picking candidates with rabbits and pheasants in their past – otherwise there is no point in employing them. But they must then be defended if and when their previous careers cause controversy.
FT Westminster blog also on the mark.
Update: Thanks to Jim for pointing out I had referred to the wrong FT blog, now amended.