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Banks’ swap-for-swap deals anger campaigners


By Ian Fraser Published: The Times Date: 29 September 2014 Small businesses, MPs and campaigners are calling for an inquiry into the Financial Conduct Authority’s handling of banks’ mis-selling of complex financial products to small businesses. Guto Bebb, a Conservative MP and chairman of an all-party parliamentary group on the issue, said: “There is no […]

September 29th, 2014 | Posted in Article Library | Read More »

Barclays comes to regret letting flash boys plunge into its “dark pool”

Ex Lehman head office, Times Square. Image www.esidesign.com

June 26th, 2014 By Rowan Bosworth-Davies One of the over-riding principles of free and well-regulated markets is that everyone who seeks access to trade must be permitted equal rights to knowledge of the prices being quoted, whether “buy” or “sell”. Anything less, and the market becomes a private playground for insiders who seek to benefit from […]

June 27th, 2014 | Posted in Blog | Read More »

Barclays raises bosses’ payouts as staff face dole


By Ian Fraser Published: Daily Record Date: 12 February 2014 Most bank chief executives, when describing the need to rebuild their institutions, restore profitability and regain people’s trust in the wake of the global financial crisis, have a habit of spouting meaningless platitudes. At first the Barclays chief executive Antony Jenkins, installed after the Libor […]

February 12th, 2014 | Posted in Article Library | Read More »

Guest post: How Britain’s banks profit from distress

Bank logos. Image courtesy of Andy Hanselman

By James Nicholls October 23rd, 2013 Banks are in the business of making money – just like every other business – and they do this by providing bank accounts and lending money at a profit. So far so ordinary. They lend to individuals and businesses and most of the time this all goes well, in […]

October 23rd, 2013 | Posted in Blog | Read More »

The Parliamentary Review: Review of the Year in Finance

Image: William Banzai 7

By Ian Fraser Published: The Parliamentary Review Date: September 30th, 2013 The Libor scandal It was described as the banking industry’s ‘tobacco moment’. In June last year, Barclays was fined £290 million by US and UK regulators and judicial authorities after it admitted to systematically rigging the London Inter-Bank Offered Rate (Libor). Libor is the […]

September 30th, 2013 | Posted in Article Library | Read More »

Stephen Hester: The great escape artist

RBS Libor rigging

By Ian Fraser Published: Sunday Herald Date: February 10th, 2013 It has been described as the biggest banking felony in history … yet no-one has been prosecuted for the Libor fixing scandal. Ian Fraser looks at the RBS sacrificial lambs.  [An edited version of this article was published on pages 34-35 the Sunday Herald on […]

February 10th, 2013 | Posted in Article Library | Read More »

Britain’s corporate failures invite a governance revolution

Bonds, Rigged Bonds

November 18th, 2012 Image: WilliamBanzai7 The bigwigs of the City of London, corporate governance ‘gurus’ in asset-management firms and leading figures from FTSE-100 companies have a penchant for patting themselves on the back over the brilliance of the corporate governance framework they have erected over the past two decades. The UK Corporate Governance Code (formerly the Combined Code of […]

November 18th, 2012 | Posted in Blog | Read More »

Full video: Barclays foreign-exchange trader hurls abuse at Chinese workers

Desbarres loses it

November 11th, 2012 Here is the video that cost Barclays head of foreign-exchange strategy, Asia-Pacific ex-Japan, his job. Foul-mouthed trader Olivier Desbarres was captured on camera outside his house in Wimborne Road, in Singapore’s Katong district, hurling abuse, racist slurs, physical threats and sheets of zinc at Chinese construction workers. The incident occurred at about […]

November 11th, 2012 | Posted in Blog | Read More »

The Barclays trader who hurled abuse, racist insults and a sheet of metal at Chinese workers

Olivier Desbarre

November 7th, 2012 In a fresh outbreak of Mad Banker Disease, Barclays head of foreign-exchange strategy, Asia-Pacific ex-Japan, Olivier Desbarres (pictured above), has had to be ‘let go’ after an altercation outside his house in Singapore. Desbarres, who was hired from Credit Suisse last year, seems to have taken exception to the noise emanating from a construction site near […]

November 7th, 2012 | Posted in Blog | Read More »

Intruders gatecrash bankers’ party to hand Barclays Libor rigging award

The Intruders

October 8th, 2012 On Thursday, October 4th, The Banker’s Investment Banking Awards 2012, a black-tie do in the Sheraton Park Lane Hotel, were successfully gatecrashed by a group of activists known as The Intruders. They managed to join the veteran BBC newsreader Peter Sissons (what was he doing there, I wonder?) on the stage of the Sheraton Park Lane […]

October 8th, 2012 | Posted in Blog | Read More »

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