On a high

Mole was tickled to hear how one building society reacted to the news that it was being downgraded in Moody\'s assault on the mutual sector recently.

One society boss questioned the logic of using a stress test of 60% peak-to-trough fall in house prices when the industry agrees it is more likely to be about 30% to 40%.

“I wish I could smoke what they were on,” the mutual boss told Mole.