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Police dossier says former HBOS directors failed to act on fraud allegations

By Ian Fraser Published: Sunday Herald Date: March 13th, 2011 FSA and Business Secretary Vince Cable among those handed evidence linked to Operation Hornet investigation into alleged £1 billion scam.  An alleged £1 billion HBOS fraud was known to former directors of the state-rescued bank, but they failed to act on the information, sources close […]

March 13th, 2011 | Posted in Article Library | Read More »

C.S. Lewis on the greatest evil

February 27th, 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 not need to raise their […]

February 27th, 2011 | Posted in Blog | Read More »

Andy Haldane outlines proposals for breaking the ‘doom loop’

February 21st, 2011 The Bank of England’s Andy Haldane gave a fresh perspective on the causes of the global financial crisis and ran through the bank’s favoured cures at a recent lecture he gave to the Irish think tank the Institute of International and European Affairs. Haldane, the BoE’s executive director of financial stability, who […]

February 21st, 2011 | Posted in Blog | Read More »

Is the House of Lords’ Crisis Inquiry Putting the FCIC to Shame?

January 29th, 2011 The many inquiries into the financial crisis have turned over plenty of stones but have failed to find any smoking guns. But the House of Lords economic affairs committee’s inquiry “Auditors: market concentration and their role” is making strides in identifying and maybe rooting out the accounting shenanigans that lay at the […]

January 29th, 2011 | Posted in Blog | Read More »

Mark-to-market accounting a danger to capitalism

January 18th, 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 Affairs Committee on the afternoon […]

January 18th, 2011 | Posted in Blog | Read More »

Moore: FSA lacks competence to investigate bank failures

By Ian Fraser Published: Sunday Herald Date: January 16th, 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 for evidence. Moore said he […]

January 16th, 2011 | Posted in Article Library,Latest Articles | Read More »

Charlie Munger: ‘Getting accounting integrity right has huge implications for future of mankind’

December 21st, 2010 In this remarkable interview, Stanford University’s professor Joseph A. Grundfest talks Charlie T. Munger, vice-chairman of Berkshire Hathaway. It might be an old interview (I think it dates from early 2009) but it remains a truly remarkable piece and, in my view, it is a must watch. Munger puts his finger on […]

December 21st, 2010 | Posted in Blog | Read More »

Eric Daniels honoured as “In-denial guy of the year”

December 17th, 2010 This is from today’s Financial Times:- Eric Daniels, come on down! Unabashed by public fury against banks, the Lloyds boss recently called on the government to protect a complex monopoly in UK banking detrimental to consumers and small businesses (I paraphrase somewhat). Mr Daniels has much in common with a French aristocrat, […]

December 17th, 2010 | Posted in Blog | Read More »

William K Black: “This is the financial equivalent of ‘Don’t ask, don’t tell”.

December 14th, 2010 Here is a clip from Dylan Rattigan’s show on MCNBC. In it Charles Ferguson, director of the forthcoming movie “Inside Job” and William K Black, associate professor of economics and law at the University of Missouri-Kansas City School of Law, explain why the US authorities have turned a blind eye to widespread […]

December 14th, 2010 | Posted in Blog | Read More »

Irish bailout seems to unravel before it’s even announced

November 27th, 2010 You know that things must be getting desperate in Ireland when significant numbers of the country’s population want to draft in the controversial and famously outspoken Ryanair chief executive, Michael O’Leary to help run the country. According to a Reuters report the no-nonsense Cork-born airline chief, whose opinion of the country’s politicians is […]

November 27th, 2010 | Posted in Blog | Read More »