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This crisis will change capitalism forever

In Blog by Ian Fraser0 Comments

14 May 2009 Until fairly recently, it was seen as counter-productive meddling in otherwise perfect, self-correcting markets. Since last year’s banking and financial crisis, however, regulation is being seen in a much more positive light. Indeed among more and more business people it is viewed as a prerequisite for a …

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Bank boss blasts UK’s ‘Zimbabwe’ economics

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: The Sunday Times Date: 26 April 2009 Azeem Ibrahim argues against the government’s nationalisation of banks The British government’s “Zimbabwe-style” approach to fighting recession will lead to years of poor economic performance, according to a Glasgow-based entrepreneur. Azeem Ibrahim, chief executive of United Arab Emirates-based ECM Bank and …

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Are ‘Big Four’ accountants a waste of space?

In Blog by Ian Fraser4 Comments

Updated 5 April 2009 From the evidence submitted to the Treasury Select Committee’s inquiry into the banking crisis, one might conclude that the profession of accountancy as practiced in the UK is past its sell-by date, clinging to the vestiges of power and influence by its fingernails and in urgent …

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The Hacker / Brown response to a scandal in the City

In Blog by Ian Fraser1 Comment

28 February 2009 There are clear parallels between the response of our current prime minister, Gordon Brown, to the crisis in the City and how the great archetype, James Hacker, responded to rumours of a City scandal years ago on the classic BBC series Yes, Prime Minister. Both believed the best response …

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Danger of death: Which audit firm will go down first?

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: The Herald Business Date: 6 November 2008 The accountancy firms that audited our distressed banks are coming under increased scrutiny The partners of “Big Four” accountancy firms have good reason to feel nervous at the moment. Already the world’s largest accountancy firm PricewaterhouseCoopers, which was responsible …

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After the fall

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 5 October 2008 As the world braces itself for the consequences of the collapse of the financial system, a new model will have to be found to replace it. So where now for banking? By Ian Fraser THE GLOBAL economy has reached the …

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Britain fiddles while the credit market burns

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 5 October 2008 IN THE Whitehall of Sir Humphrey and James Hacker, it was quite normal. Politicians and their officials would spend hours pontificating about new initiatives in smoke-filled rooms alongside industry practitioners, or else embark on lengthy but pointless consultations before new …

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Americans to Wall Street: Why should we bail you out?

In Blog by Ian Fraser0 Comments

29 September 2008 Henry “Hank” Paulson pitched it as a panacea for America’s financial woes. But, despite all the sabre-rattling and doom-mongering from US president George Bush, the people of America have not allowed themselves to be hoodwinked.  Why should they take ownership of the very worst loans and other …

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The end of HBOS

In Blog by Ian Fraser0 Comments

17 September 2008 Picture: Amelia Calvert HBOS — created from the expedient merger of Halifax and “Governor & Company of the Bank of Scotland” in September 2001 — is in its death throes. If the BBC’s business editor Robert Peston is to be believed, the bank is about to be …