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Banking’s ‘Milly Dowler’ moment

In Blog by Ian Fraser2 Comments

June 29th, 2012 This is banking’s ‘Milly Dowler’ moment. Finally the blinkers are off and the rest of the world (by which I mean people like leading politicians and the mainstream commentariat) is waking up to the culture of self serving greed and corruption that has infested the UK’s banking …

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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 …

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Rowan Bosworth-Davies | Has the UK rediscovered its appetite for prosecuting ‘white collar’ crime?

In Blog by Ian Fraser17 Comments

16 March 2012 In the second in a series of guest posts, Rowan Bosworth-Davies, a financial crime consultant and former Scotland Yard detective, provides a historical perspective on the UK authorities’ lack of appetite for prosecuting high level financial crime Edwin Sutherland, the American sociologist and criminologist, is perhaps best known for his …

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Ian Fraser interviewed by Talk Nation Radio

In Blog by Ian Fraser0 Comments

16 December 2011 Here is a half-hour interview that I gave to Dori Smith of Connecticut, US-based Talk Nation Radio on December 9th, 2011. One of the themes is the wilful blindness of the Financial Services Authority to corruption in the UK banking and finance sector (to listen, click on the …

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Mood against bankers turns uglier following FSA “whitewash”

In Blog by Ian Fraser0 Comments

15 December 2011 Writing in the Monday’s Daily Telegraph the Royal Bank of Scotland’s chairman Sir Philip Hampton said the FSA’s report into the RBS collapse would be “an important contribution to the steps needed to restore public trust in RBS, the banking sector, and our regulators”. Unfortunately, the report has done nothing …

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On banking, David Cameron is either clueless or a liar

In Blog by Ian Fraser1 Comment

5 October 2011 David Cameron displayed an astonishing lack of understanding of the banking sector in his interview with Sarah Montague on the BBC Radio 4 Today programme on Tuesday morning (as, I’m afraid, did Sarah, given her blinkered obsession with “bonuses”). If Cameron’s stumbling performance was due to ignorance, …

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Now it’s London’s turn

In Blog by Ian Fraser0 Comments

3 October 2011 It looks like the City of London is about to be occupied too. A group calling itself Occupy London intends to occupy Paternoster Square and the area around the London Stock Exchange near St Paul’s Cathedral in the Square Mile commencing Saturday October 15th. Inspired by the …

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Time magazine’s panegyric to the City is beyond parody

In Blog by Ian Fraser0 Comments

21 September 2011 It’s incredible how some journalists got it so wrong about the City of London just prior to the crash of 2007-09. In January 2007 Time Magazine’s Adam Smith wrote an unctuous feature about the Square Mile which lavished praise on Gordon Brown’s “light touch” approach to financial …

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How much did UBS know about Kweku Adoboli’s trades?

In Blog by Ian Fraser1 Comment

15 September 2011 So after Nick Leeson and Jerôme Kerviel, it seems that another ‘rogue’ trader is about to enter the annals of banking infamy. This time it’s the turn of the Nottingham University-educated market maker, Kweku Adoboli. Adoboli, a 31-year old trader in the bank’s City of London-based exchange-traded …