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Gavin Masterton and the riddle of Charlotte 18

Gavin Masterton

September 17th, 2013 (updated with minor edits September 24th, 2013) Charlotte Eighteen, a shadowy company based in the tax secrecy jurisdiction of the British Virgin Islands, remains the subject of intense interest among Scottish football fans. Allegedly the holding company for the business assets of Gavin Masterton, the former treasurer and managing director of the […]

September 17th, 2013 | Posted in Blog | Read More »

Sir James Crosby, the ex HBOS boss, and the concept of mercy

HALIFAX/EQUITABLE LIFE

December 1st, 2012 In a comment piece in Saturday’s Times, financial editor Patrick Hosking gave ten reasons why the Parliamentary Commission on Banking Standards must show absolutely no mercy to the former HBOS chief executive James Crosby when he appears before it at 3.30pm on Monday afternoon. This is no time for faux deference, taking mendacious spin at face value, letting […]

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

Sir Ron Garrick fiddled while HBOS burned

HBOS protests

November 26th, 2012 (updated November 27th 2012) [Note: if the video of the Parliamentary Commission on Banking Standards' cross-examination of Sir Charles Dunstone and Sir Ron Garrick starts to play, you need to scroll down to the bottom of this blog post to pause or mute it] It is not often that I am gob-smacked […]

November 26th, 2012 | Posted in Blog | Read More »

Book review: Going for broke

The National Monument, Calton Hill; photo by Jim Downie

By Ian Fraser Published: Scottish Review of Books Date November 17th, 2012 It was intended as a memorial to the Scots who died in the Napoleonic Wars. But it wasn’t long before the incomplete replica of the Parthenon on Calton Hill was labelled ‘Edinburgh’s disgrace’. This was because the so-called National Monument was left half-finished, with […]

November 17th, 2012 | Posted in Article Library | Read More »

Illusion of unassailability leads to fresh outbreak of ‘mad banker disease’

Banksters

November 6th, 2012 By Gordon Neave Picture: The Economist During the late 1980s and early 1990s British bankers changed for the worse. Having spent most of the past three centuries as financial herbivores — solid, reliable and rational members of the community — they metamorphosed into wild, hungry carnivores. Fuelled by commissions, bonuses and greed, […]

November 6th, 2012 | Posted in Blog | Read More »

The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

HBOS via The We

February 27th, 2010 (updated June 22nd, 2012) HBOS’s entrance on The Mound; Image: The We Lessons must be learnt from the short and calamitous history of HBOS, the bank which effectively went bust in September 2008, writes Ian Fraser (Note: This article was first posted under the headline “HBOS: When did the rot set in? […]

June 22nd, 2012 | Posted in Blog | Read More »

Financial regulation: With Griffith-Jones’ appointment, Britain keeps it in the family

John Griffith Jones chairman KPMG

By Ian Fraser Published: Qfinance Date: June 18th, 2012 I was surprised and exasperated to learn last week that chancellor George Osborne has rubber-stamped the appointment of John Griffith-Jones, the senior partner of KPMG, as chairman-designate of the Financial Conduct Authority, one of the two financial regulators that will take over from the soon-to-be-disbanded FSA. As […]

June 18th, 2012 | Posted in Article Library,Blog | Read More »

The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

HBOS via The We

Editorial note: June 22nd, 2012 A revised and updated version of this blog is now available via the following link:- The Worst Bank in the World? HBOS’s Calamitous Seven Year Life

May 13th, 2012 | Posted in Blog | Read More »

Clydesdale’s retreat

Bonnie Prince Charlie

By Ian Fraser Published: Sunday Herald Date: May 6th, 2012   It was supposed to be Scotland’s safe bank. What went wrong? By Ian Fraser Call it Cameron Clyne’s ‘Derby’ moment. At a council of war in that East Midlands city in 1745, Bonnie Prince Charlie had to concede that weak generalship, poor logistics and […]

May 6th, 2012 | Posted in Article Library | Read More »

John Kay on the illusory nature of bank profits

John Kay

April 16th, 2012 In this speech the economist and author John Kay examined how the financial sector continues to make — or claims to make — returns-on-equity which are way in excess of any reasonable estimate of cost of capital. Kay, a visiting professor at London School of Economics, examined various possible reasons but then focused on […]

April 16th, 2012 | Posted in Blog | Read More »

Fraser on Twitter

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