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The trouble with our banking culture

In Blog by Ian Fraser1 Comment

July 18th, 2012 Image by WilliamBanzai7 A friend who works for for Barclays told me what the culture is now like at such banks these days. In response to a question about how bankers have changed — in terms of culture, motivations, behaviour — over the past two decades, he …

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Guest Post: The Libor crime scene will soon be expanded

In Blog by Ian Fraser0 Comments

July 16th, 2012 By The Left Banker Image: WilliamBanzai7 For the past 30 years, the global economy has built up increasingly vast amounts of public, private and household debt. This was to compensate for the fall in real wages and to avoid a repeat of the crisis of over-production of goods …

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Loss of trust

In Article Library by Ian Fraser0 Comments

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 …

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The Royal Bank of Scotland’s world of pain

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: July 15th, 2012 Published: Sunday Herald In his glory days Fred Goodwin aspired to make Royal Bank of Scotland a global bank on which the sun never set. Corporate videos extolling the group’s global reach were routinely played at investor meetings. His legacy is a world …

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Talking Li(e)borgate on the Keiser Report

In Blog by Ian Fraser2 Comments

July 13th, 2012 On Tuesday, I was interviewed by Max Keiser of the Keiser Report about the UK’s lack of appetite for prosecuting  ‘white collar’ crime. Max also asked me about the Libor rigging scandal, swaps misselling by UK banks, and much else besides. The progeamme was broadcast on Wednesday …

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Psy-Fi blog: On the corrosion of moral leadership

In Blog by Ian Fraser0 Comments

July 3rd, 2012 This post was first published on the Psy-Fi blog on June 29th, 2012. It is republished with permission.    Image courtesy of Zerohedge Libor Illegality News that Barclays has been fined for Libor manipulation in both the UK and in the US — and that there are likely to be many more …

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A short history of RBS’s Global Restructuring Group

In Blog by Ian Fraser5 Comments

June 17th, 2012 (updated November 10th 2012) Have NatWest and RBS gone rogue? Has the Royal Bank of Scotland, which has owned NatWest for the past 12 years, become a ‘rogue’ institution? And more specifically has its global restructuring group, formerly known as specialised lending services, become a quasi-criminal or …

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The Case for a Financial WikiLeaks

In Blog by Ian Fraser4 Comments

By Brett Scott May 15th, 2012 (edited May 16th, 2012) The greatest barriers to financial whistleblowing are social and economic, not legal. Fear of being shunned by colleagues, passed over for promotion, bullied and harrassed, summarily dismissed and even shut out of Wall Street or the City for life plays …