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Time magazine’s panegyric to the City is beyond parody

In Blog by Ian Fraser0 Comments

21 September 2011 It’s incredible how some journalists got it so wrong about the City of London just prior to the crash of 2007-09. In January 2007 Time Magazine’s Adam Smith wrote an unctuous feature about the Square Mile which lavished praise on Gordon Brown’s “light touch” approach to financial …

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Cameron must not go soft on the banks

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 3 September 2011 As leader of the opposition, David Cameron gave the impression he intended to be tough on the banks. In an interview with Sky News in January 2009, he called for criminal actions against bankers and earlier said we needed “a …

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C.S. Lewis on the greatest evil

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27 February 2011 “The greatest evil is not done in those sordid dens of evil that Dickens loved to paint but is conceived and ordered (moved, seconded, carried, and minuted) in clear, carpeted, warmed, well-lighted offices, by quiet men with white collars and cut fingernails and smooth-shaven cheeks who do …

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Andy Haldane: how to break banking’s ‘doom loop’

In Blog by Ian Fraser2 Comments

21 February 2011 The Bank of England’s Andy Haldane gave a fresh perspective on the causes of the global financial crisis and ran through the UK central bank’s favoured cures at a recent lecture he gave to Irish thinktank the Institute of International and European Affairs. Haldane, the BoE’s executive …

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Mark-to-market accounting a danger to capitalism

In Blog by Ian Fraser0 Comments

18 January 2011 The interrogation of Barclays’ newly-installed chief executive Bob Diamond by the Treasury committee of the House of Commons last Tuesday was an unsatisfactory affair. But it was followed by a much more productive parliamentary session in the UK — a meeting of the House of Lords Economic …

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Moore: FSA lacks competence to investigate bank failures

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By Ian Fraser Published: Sunday Herald Date: 16 January 2011 Paul Moore, former head group regulatory risk at HBOS-turned-whistleblower, has cast doubt on the rigour of the Financial Services Authority’s ongoing investigation into the collapse of the Edinburgh-based bank, on the grounds that informed critical witnesses have not been approached …

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Irish bailout seems to unravel before it’s even announced

In Blog by Ian Fraser0 Comments

27 November 2010 You know that things must be getting desperate in Ireland when the Irish want to draft in Ryanair chief executive, Michael O’Leary to help run the country. According to a Reuters report, the no-nonsense Cork-born airline chief executive, whose opinion of the country’s politicians is regularly expressed …

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Trust Me I’m A Banker

In Blog by Ian Fraser1 Comment

11 October 2010 BBC Scotland’s Trust Me I’m A Banker will be aired on BBC1 Scotland at 7.30pm tonight. I helped to research the programme and was interviewed for it on whether the Graeme Shankland / Bank of Scotland Integrated Finance deal — which saw the ownership of a troublesome …

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Bust air firm may provide key to HBOS controls failures

In Blog by Ian Fraser4 Comments

28 August 2010 [Editorial Note: This article was written in June 2010 but has not previously been published in its entirety. An edited version was published in The Sunday Times on June 27th, 2010] Directors of an aviation business that crash landed owing HBOS £113 million in September 2007 were allowed …