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The true cost of the FSA’s blindness to UK bank corruption

December 16th, 2011 Here is the half hour interview I gave to Dori Smith of US-based Talk Nation Radio on December 9th, 2011. There theme is the wilful blindness of the Financial Services Authority to corruption in the UK banking and finance sector. Produced by Dori Smith in Storrs, Connecticut, USA Download at Pacifica’s Audioport here or […]

December 16th, 2011 | Posted in Blog | Read More »

Mood against bankers turns even uglier following FSA “whitewash”

December 15th, 2011 Writing in the Monday’s Daily Telegraph Royal Bank of Scotland 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 had no such effect. Indeed, if the comments […]

December 15th, 2011 | Posted in Blog | Read More »

St Paul’s Institute shines a light on the City’s dark heart

By Ian Fraser Published: QFINANCE Date: December 1st, 2011 The bizarre contortions that the Church of England got itself into over the protesters who are camping outside St Paul’s Cathedral are nothing when compared to the tortured mindsets of many of those who work in the City of London. The survey Value and Values: Perceptions of […]

December 1st, 2011 | Posted in Article Library,Blog | Read More »

The dukes and earls in America’s great tower of bullshit start to blink

By Ian Fraser Published: QFINANCE Date: October 20th, 2011 There may be a good few Maoists, Trotskyists, Anarcho-Syndicalists and even the odd deluded benefit scrounger among them, but it is simply wrong to characterize the Occupy Wall Street protestors who are camping out in 1,500 cities worldwide as wanting to overthrow capitalism, in the same way […]

October 20th, 2011 | Posted in Article Library,Blog,Latest Articles | Read More »

On banking, David Cameron is either clueless or a liar

October 5th, 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, then it’s inexcusable. If it’s […]

October 5th, 2011 | Posted in Blog | Read More »

Now it’s London’s turn

October 3rd, 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 15-M protests in Spain, Occupy […]

October 3rd, 2011 | Posted in Blog | Read More »

Time’s panegyric to the City of London is beyond parody

September 29th, 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 regulation. In his second paragraph, […]

September 29th, 2011 | Posted in Blog | Read More »

Ex-UBS trader says Swiss bank was probably trying to cover up its losses

September 15th, 2011 Ex-UBS trader Shaun Richards has come up with an interesting theory of what went wrong at UBS’s Delta One unit, whose trader Kweku Adoboli was arrested at 3.30am this morning and I believe remains in custody. Richards believes that the Swiss bank got caught with its trousers down when the Swiss central […]

September 15th, 2011 | Posted in Blog | Read More »

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

September 15th, 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 funds business, was arrested on […]

September 15th, 2011 | Posted in Blog | Read More »

Does Vickers go far enough?

September 12th, 2011 This morning I was listening to Nicky Campbell’s phone-in programme on BBC Radio 5 Live. The topic was the final proposals of Sir John Vickers’ Independent Banking Commission for reforming the UK’s banking system, which were published this morning. To many, including Philip Augar (who since leaving the City in 2000 has done […]

September 12th, 2011 | Posted in Blog | Read More »