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	<title>Ian Fraser</title>
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	<link>http://www.ianfraser.org</link>
	<description>Journalist, Blogger, Broadcaster</description>
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		<title>UBS urges NAB to sell Clydesdale &amp; Yorkshire Banks promptly even at £1.3bn loss</title>
		<link>http://www.ianfraser.org/ubs-analyst-jonathan-mott-tells-nab-to-make-the-big-call-and-get-out-of-the-uk/</link>
		<comments>http://www.ianfraser.org/ubs-analyst-jonathan-mott-tells-nab-to-make-the-big-call-and-get-out-of-the-uk/#comments</comments>
		<pubDate>Wed, 15 Feb 2012 16:57:16 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Cameron Clyne]]></category>
		<category><![CDATA[Clydesdale Bank]]></category>
		<category><![CDATA[commercial property]]></category>
		<category><![CDATA[Jonathan Mott]]></category>
		<category><![CDATA[NAB]]></category>
		<category><![CDATA[National Australia Bank]]></category>
		<category><![CDATA[UBS]]></category>
		<category><![CDATA[Yorkshire Bank]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=6098</guid>
		<description><![CDATA[February 15th, 2012 Further to my recent story about Clydesdale Bank and Yorkshire Bank being essentially worthless following their reckless commercial property lending binge in 2005-07 and subsequent blog post, an analyst from UBS has sort of confirmed the story. UBS banking analyst Jonathan Mott is urging Cameron Clyne, chief executive of Melbourne-based NAB  to sell [...]]]></description>
		<wfw:commentRss>http://www.ianfraser.org/ubs-analyst-jonathan-mott-tells-nab-to-make-the-big-call-and-get-out-of-the-uk/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Where did it all go wrong for Clydesdale and Yorkshire Banks?</title>
		<link>http://www.ianfraser.org/whats-gone-wrong-with-clydesdale-bank/</link>
		<comments>http://www.ianfraser.org/whats-gone-wrong-with-clydesdale-bank/#comments</comments>
		<pubDate>Tue, 14 Feb 2012 17:55:43 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Amy Davies]]></category>
		<category><![CDATA[Cameron Clyne]]></category>
		<category><![CDATA[Clydesdale Bank]]></category>
		<category><![CDATA[commercial property]]></category>
		<category><![CDATA[Evan Jones]]></category>
		<category><![CDATA[National Australia Bank]]></category>
		<category><![CDATA[PWC]]></category>
		<category><![CDATA[University of Sydney]]></category>
		<category><![CDATA[Yorkshire Bank]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=6077</guid>
		<description><![CDATA[February 14th, 2012 The allegations of &#8220;a black hole&#8221;, &#8220;reckless commercial property lending in 2005-07&#8243;, &#8220;dodgy accounting&#8221; etc at National Australia Bank&#8217;s UK subsidiaries Clydesdale Bank and Yorkshire Bank (which I&#8217;ve now heard from at least four reliable and independent senior banking sources) just won&#8217;t seem to go away. I touched on this in an [...]]]></description>
		<wfw:commentRss>http://www.ianfraser.org/whats-gone-wrong-with-clydesdale-bank/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Clydesdale&#8217;s claims be a prudent lender ring hollow following NAB &#8216;review&#8217;</title>
		<link>http://www.ianfraser.org/clydesdales-pretensions-to-be-a-prudent-lender-tested-following-nab-review/</link>
		<comments>http://www.ianfraser.org/clydesdales-pretensions-to-be-a-prudent-lender-tested-following-nab-review/#comments</comments>
		<pubDate>Sun, 12 Feb 2012 17:12:00 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Article Library]]></category>
		<category><![CDATA[Alex Salmond]]></category>
		<category><![CDATA[Asymptotix]]></category>
		<category><![CDATA[Bank of Scotland]]></category>
		<category><![CDATA[Cameron Clyne]]></category>
		<category><![CDATA[Clydesdale Bank]]></category>
		<category><![CDATA[David Fleming]]></category>
		<category><![CDATA[David Thorburn]]></category>
		<category><![CDATA[Drew Smith]]></category>
		<category><![CDATA[Fred Goodwin]]></category>
		<category><![CDATA[Hugh Osmond]]></category>
		<category><![CDATA[John Morrison]]></category>
		<category><![CDATA[Lloyds Banking Group]]></category>
		<category><![CDATA[Lord Forsyth]]></category>
		<category><![CDATA[Lord Levene]]></category>
		<category><![CDATA[Lord McFall]]></category>
		<category><![CDATA[Lynn Peacock]]></category>
		<category><![CDATA[Melbourne]]></category>
		<category><![CDATA[Mike Williams]]></category>
		<category><![CDATA[NAB]]></category>
		<category><![CDATA[National Australia Bank]]></category>
		<category><![CDATA[NBNK]]></category>
		<category><![CDATA[One Savings]]></category>
		<category><![CDATA[RBS]]></category>
		<category><![CDATA[Sun Capital Partners]]></category>
		<category><![CDATA[Unite The Union]]></category>
		<category><![CDATA[Yorkshire Bank]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=6069</guid>
		<description><![CDATA[By Ian Fraser Published: Sunday Herald Date: February 12th, 2012 From the perspective of its head office in Melbourne&#8217;s Bourke Street, National Australia Bank’s UK subsidiaries Clydesdale Bank and Yorkshire Bank are looking increasingly like dead weights, or the weakest links, at the moment. The Australian economy, where the Victoria-based bank has the bulk of its [...]]]></description>
		<wfw:commentRss>http://www.ianfraser.org/clydesdales-pretensions-to-be-a-prudent-lender-tested-following-nab-review/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>RBS and NatWest customers offered range of ethical choices</title>
		<link>http://www.ianfraser.org/rbs-and-natwest-customers-offered-range-of-ethical-choices/</link>
		<comments>http://www.ianfraser.org/rbs-and-natwest-customers-offered-range-of-ethical-choices/#comments</comments>
		<pubDate>Mon, 06 Feb 2012 01:21:26 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[advertising]]></category>
		<category><![CDATA[ATM]]></category>
		<category><![CDATA[cash machine]]></category>
		<category><![CDATA[cashpoint]]></category>
		<category><![CDATA[environmental destruction]]></category>
		<category><![CDATA[ethics]]></category>
		<category><![CDATA[morality]]></category>
		<category><![CDATA[NatWest]]></category>
		<category><![CDATA[RBS]]></category>
		<category><![CDATA[Royal Bank of Scotland (RBS)]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=6047</guid>
		<description><![CDATA[February 6th, 2012 People approaching Royal Bank of Scotland and NatWest cash machines are increasingly likely to be confronted by a range of ethical choices before they&#8217;re able to withdraw their cash. Given the Edinburgh-based bank&#8217;s failure to properly reform itself in the wake of its October 2008 taxpayer-funded bailout, and its pariah-like status over [...]]]></description>
		<wfw:commentRss>http://www.ianfraser.org/rbs-and-natwest-customers-offered-range-of-ethical-choices/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>The media frenzy about RBS bonuses and Fred Goodwin&#8217;s knighthood is a sideshow</title>
		<link>http://www.ianfraser.org/the-media-frenzy-about-rbs-bonuses-and-fred-goodwins-knighthood-is-a-sideshow/</link>
		<comments>http://www.ianfraser.org/the-media-frenzy-about-rbs-bonuses-and-fred-goodwins-knighthood-is-a-sideshow/#comments</comments>
		<pubDate>Thu, 02 Feb 2012 16:45:58 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Article Library]]></category>
		<category><![CDATA[Blog]]></category>
		<category><![CDATA[BBC]]></category>
		<category><![CDATA[bonuses]]></category>
		<category><![CDATA[Channel 4 News]]></category>
		<category><![CDATA[David Cameron]]></category>
		<category><![CDATA[Ed Miliband]]></category>
		<category><![CDATA[Financial Services Authority (FSA)]]></category>
		<category><![CDATA[Fred Goodwin]]></category>
		<category><![CDATA[Gordon Brown]]></category>
		<category><![CDATA[Guardian]]></category>
		<category><![CDATA[Jon Snow]]></category>
		<category><![CDATA[Matthew Greenburgh]]></category>
		<category><![CDATA[Merrill Lynch]]></category>
		<category><![CDATA[Philip Augar]]></category>
		<category><![CDATA[Queen Elizabeth II]]></category>
		<category><![CDATA[RBS]]></category>
		<category><![CDATA[Royal Bank of Scotland]]></category>
		<category><![CDATA[Royal Bank of Scotland (RBS)]]></category>
		<category><![CDATA[Simon Jenkins]]></category>
		<category><![CDATA[stephen Hester]]></category>
		<category><![CDATA[STV]]></category>
		<category><![CDATA[Tags: Andrea Orcel]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=6031</guid>
		<description><![CDATA[By Ian Fraser Published: QFINANCE Date: February 2nd, 2012 Financial commentators are, suddenly, in demand and it&#8217;s largely down to the continuing failure of banks to properly reform themselves in the wake of the global financial crisis and the current public rage about bankers who continue to award themselves massive pay packages even though their [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Are hedge funds and private equity funds fleecing their investors?</title>
		<link>http://www.ianfraser.org/are-hedge-funds-and-private-equity-funds-fleecing-their-investors/</link>
		<comments>http://www.ianfraser.org/are-hedge-funds-and-private-equity-funds-fleecing-their-investors/#comments</comments>
		<pubDate>Thu, 02 Feb 2012 10:02:37 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Article Library]]></category>
		<category><![CDATA[Blog]]></category>
		<category><![CDATA[Financial Times]]></category>
		<category><![CDATA[Hedge Fund Research]]></category>
		<category><![CDATA[hedge funds]]></category>
		<category><![CDATA[Honestly Banking]]></category>
		<category><![CDATA[leveraged buyout]]></category>
		<category><![CDATA[Matthew Yglesias]]></category>
		<category><![CDATA[Paul Amery]]></category>
		<category><![CDATA[prime broker]]></category>
		<category><![CDATA[principal-agent problem]]></category>
		<category><![CDATA[private equity]]></category>
		<category><![CDATA[The Economist]]></category>
		<category><![CDATA[The Hedge Fund Mirage]]></category>
		<category><![CDATA[total return]]></category>
		<category><![CDATA[Warren Buffett]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=6023</guid>
		<description><![CDATA[By Ian Fraser Published: QFINANCE Date: February 1st, 2012 The Berkshire Hathaway chairman Warren Buffett (pictured above playing the ukelele) once famously quipped that a hedge fund is a “compensation scheme masquerading as an asset class”. The remark, a reference to the fact that many hedge funds provide investors with feeble returns whilst massively enriching intermediaries (the hedge fund [...]]]></description>
		<wfw:commentRss>http://www.ianfraser.org/are-hedge-funds-and-private-equity-funds-fleecing-their-investors/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Peter Cummings&#8217; &#8216;Aladdin&#8217;s Cave&#8217;</title>
		<link>http://www.ianfraser.org/peter-cummings-aladdins-cave/</link>
		<comments>http://www.ianfraser.org/peter-cummings-aladdins-cave/#comments</comments>
		<pubDate>Tue, 31 Jan 2012 13:34:45 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Bank of Scotland]]></category>
		<category><![CDATA[HBOS]]></category>
		<category><![CDATA[integrated finance]]></category>
		<category><![CDATA[Lloyds]]></category>
		<category><![CDATA[Lloyds Banking Group]]></category>
		<category><![CDATA[Mortgage Strategy]]></category>
		<category><![CDATA[Peter Cummings]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=6005</guid>
		<description><![CDATA[January 31st, 2012 The man who destroyed the Bank of Scotland with a reckless and seemingly out-of-control corporate and real-estate lending spree is in the media again. Mortgage Strategy has an article (Living in the age of less reason) which touches on the &#8220;pig on pork&#8221; or integrated finance model favoured by Peter Cummings, who [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The battle of Hester&#8217;s bonus: Labour&#8217;s hypocrisy, PIRC&#8217;s doubts</title>
		<link>http://www.ianfraser.org/the-battle-of-hesters-bonus-labours-hypocrisy-pircs-doubts/</link>
		<comments>http://www.ianfraser.org/the-battle-of-hesters-bonus-labours-hypocrisy-pircs-doubts/#comments</comments>
		<pubDate>Sat, 28 Jan 2012 16:12:32 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[Alistair Darling]]></category>
		<category><![CDATA[bonuses]]></category>
		<category><![CDATA[British Land]]></category>
		<category><![CDATA[Lord Myners]]></category>
		<category><![CDATA[PIRC]]></category>
		<category><![CDATA[RBS]]></category>
		<category><![CDATA[Royal Bank of Scotland]]></category>
		<category><![CDATA[stephen Hester]]></category>
		<category><![CDATA[UKFI]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=5988</guid>
		<description><![CDATA[January 28th, 2012 Labour is being supremely hypocritical over the £1 million share-based bonus recently awarded to RBS boss Stephen Hester. It was the government of Gordon Brown, which didn&#8217;t leave Downing Street until May 2010, that signed off the original contract and subsequent long-term remuneration policies that made the bonus possible. The ministers who [...]]]></description>
		<wfw:commentRss>http://www.ianfraser.org/the-battle-of-hesters-bonus-labours-hypocrisy-pircs-doubts/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Does RBS boss Stephen Hester deserve his £1m bonus?</title>
		<link>http://www.ianfraser.org/does-rbs-boss-stephen-hester-deserve-his-1m-bonus/</link>
		<comments>http://www.ianfraser.org/does-rbs-boss-stephen-hester-deserve-his-1m-bonus/#comments</comments>
		<pubDate>Sat, 28 Jan 2012 02:25:16 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[bailout]]></category>
		<category><![CDATA[banking]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[bonuses]]></category>
		<category><![CDATA[british banks]]></category>
		<category><![CDATA[David Cameron]]></category>
		<category><![CDATA[Gordon Brown]]></category>
		<category><![CDATA[Penny Hughes]]></category>
		<category><![CDATA[RBS]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[Royal Bank of Scotland]]></category>
		<category><![CDATA[stephen Hester]]></category>
		<category><![CDATA[transparency]]></category>
		<category><![CDATA[UK]]></category>
		<category><![CDATA[UK Equity]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=5973</guid>
		<description><![CDATA[By Ian Fraser Published: QFINANCE Date: January 27th, 2012 The board of Royal Bank of Scotland and its remuneration committee, led by the ex-Coca Cola executive Penny Hughes but also comprising ex-Standard Life boss Sandy Crombie, must have decided let&#8217;s just go for it and to hang with the consequences. The RBS board of directors [...]]]></description>
		<wfw:commentRss>http://www.ianfraser.org/does-rbs-boss-stephen-hester-deserve-his-1m-bonus/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Massed burial of heads in the Davos snow</title>
		<link>http://www.ianfraser.org/massed-burial-of-heads-in-the-davos-snow/</link>
		<comments>http://www.ianfraser.org/massed-burial-of-heads-in-the-davos-snow/#comments</comments>
		<pubDate>Thu, 26 Jan 2012 01:47:57 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Blog]]></category>
		<category><![CDATA[#occupy]]></category>
		<category><![CDATA[Bourbons]]></category>
		<category><![CDATA[Davos]]></category>
		<category><![CDATA[Felix Salmon]]></category>
		<category><![CDATA[Financial Times]]></category>
		<category><![CDATA[income inequality]]></category>
		<category><![CDATA[Martin Wolf]]></category>
		<category><![CDATA[OccupyWEF]]></category>
		<category><![CDATA[World Economic Forum]]></category>

		<guid isPermaLink="false">http://www.ianfraser.org/?p=5948</guid>
		<description><![CDATA[January 26th, 2012 Apparently the topic on everyone&#8217;s lips at the World Economic Forum in the Swiss alpine resort of Davos this year is income inequality and how to reduce it. Does the global corporate elite not realise there is a fairly obvious solution, and it&#8217;s staring them in the face? As a starting point [...]]]></description>
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		<slash:comments>0</slash:comments>
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