Home » Bank of England You are browsing entries tagged with “Bank of England”

Written evidence to the Parliamentary Commission on Banking Standards

Parliamentary Commission on Banking Standards Submission from Ian Fraser, 24 August 2012 [Update: January 12, 2013. This is my submission to the Parliamentary Commission on Banking Standards, which is being chaired by Andrew Tyrie MP. Written in August 2012, it was published on the Parliamentary website [pdf 28mb] on December 19th, 2012 — it can be found on […]

September 21st, 2012 | Posted in Blog | Read More »

It’s time the FSA learnt the lessons of Hillsborough. Eventually the truth will out

September 17th, 2012 (Updated 11.25am) (edited Dec 16th 2012) Studiously ignoring the roles of “establishment” figures like Sir James Crosby and Lord Stevenson in the demise of disastrous Edinburgh-based bank HBOS, the Financial Services Authority is seeking to heap all the ordure on the less establishment Peter Cummings. Now I am not suggesting that Cummings is […]

September 17th, 2012 | Posted in Blog | Read More »

Resolving the banking crisis will require radical surgery and quiet determination

By Ian Fraser Published: Sunday Herald Date: August 12th, 2012 STANDARD Chartered, the London-headquartered bank that does most of its business in Asia, was – until the beginning of last week – the last good bank standing. It was one of the select band of banks to characterise themselves as a cut above the rest, having […]

August 12th, 2012 | Posted in Latest Articles | Read More »

To resolve the Libor scandal, we must decide. Do we want to save banks, or our societies?

August 1st, 2012 Raúl Ilargi Meijer, editor-in-chief of The Automatic Earth, wrote three weeks ago that Libor rigging was a criminal conspiracy from the start. Here he provides an update which summarizes how collusion between large banks and central banks/regulators allowed the rate-rigging scandal to continue unchecked, at the expense of society and the real economy, […]

August 1st, 2012 | Posted in Blog | Read More »

Matt Taibbi: “I cannot imagine how a sane person could describe Libor rigging as a victimless crime”

July 20th, 2012 I entirely agree with Matt Taibbi here. Rush transcript from Democracy Now below:- JUAN GONZÁLEZ: We end today’s show with Matt Taibbi. He’s a contributing editor for Rolling Stone magazine. His most recent in-depth piece is “The Scam Wall Street Learned from the Mafia: How America’s Biggest Banks Took Part in a […]

July 20th, 2012 | Posted in Blog | Read More »

Loss of trust

By Ian Fraser Published: Signet Magazine Date: July 16th, 2012 (minor edits March 28th, 2013) Scottish banking was once renowned for prudential management. Today the association is rather different. Financial journalist Ian Fraser gives his view of events behind the collapse of RBS and HBOS and calls for a Leveson-style inquiry. PDF version of this […]

July 16th, 2012 | Posted in Article Library | Read More »

Adam Posen: it’s time the UK stopped “fetish-ising” its banks

July 12th, 2012 The American economist Adam Posen, a member of the monetary policy committee of the Bank of England, recently told a conference in Edinburgh that it’s high time the UK lost its “bank fetish” and stopped treating banking as strategic industry. He said we need counter-cyclical taxes on real estate and that we must […]

July 12th, 2012 | Posted in Blog | Read More »

Paul Moore: I can clear out Barclays’ ‘Augean Stables’

July 10th, 2012 Paul Moore, the ‘HBOS whistleblower’, has put himself forward as Marcus Agius’s successor as chairman of Barclays. Moore first put himself forward for the role last Wednesday (July 4th) and is now proposing a formal manifesto of change for Barclays, with a view to cleaning up the scandal ridden bank in the wake […]

July 10th, 2012 | Posted in Blog | Read More »

The 12 Barclays scandals that cast doubt on Diamond’s testimony

July 5th, 2012 (updated July 6th, 6.35pm and 11.58pm) Smearing the facilitators? Ex-Barclays chief executive Bob Diamond had been tipped to ‘throw his toys out of the pram’ in the Treasury Select Committee hearing this afternoon. He was expected to lash out at the authorities that had engineered his ousting. It was also thought he […]

July 5th, 2012 | Posted in Blog | Read More »

Sir Marcus Agius — not very Herculean

July 4th, 2012 Marcus Agius, the in-and-out chairman of Barclays, fails to convince in this interview with Faisal Islam. When asked if Diamond had resigned because he was told to by the governor of the Bank of England, Mervyn King, and the chairman of the FSA Lord Turner, Agius fails to answer, but just parrots the line: […]

July 4th, 2012 | Posted in Blog | Read More »