Former BBC chairman Michael Grade speaks from a position of authority when he says that the embattled broadcaster has lost the value of money. "It's like the son of a rich family. You don't have to work and get an allowance every week – you don't learn the value of money," said Grade, who – as the Daily Mail's mischievous Ephraim Hardcastle column points out – famously turned up as a 17-year-old at the Daily Mirror in his wealthy family's Rolls-Royce.
