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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 »

James K Galbraith: Wall Street so riddled with fraud, it’s beyond repair

October 3rd, 2011 So it was endemic fraud and the collapse of the rule of law—not global imbalances or government and regulatory failure—that destroyed the financial system. In a keynote speech given at the Post Keynes conference in Denmark earlier this year, the Keynesian economist James K. Galbraith of the L.B.J. School of Public Affairs at the University of Texas at […]

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

The City needs rehab; it’ll say ‘no, no, no’

August 11th, 2011 When my ex-boss Roger Neill launched the Centre for Creativity at City University London in winter of 2009, he staged a “Big City Brainstorm” which pulled together a diverse group of people – including several from the City of London. Roger and other people behind the CfC wanted to find ways of addressing […]

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

Horta-Osório’s attempt to reinvent Lloyds will fail unless he addresses the sins of the past

June 26th, 2011 The patience of António Horta-Osório, the Portuguese-born boss of Lloyds Banking Group, appears to be wearing thin. According to a comment piece in the Sunday Telegraph, the former Goldman Sachs and Santander banker has pleaded with executives from Lloyds and the former HBOS to stop hiding the truth from him. The paper’s […]

June 26th, 2011 | Posted in Blog | Read More »

It’s time investors saw sense and stopped giving credence to rating agencies

June 10th, 2011 The credit rating agencies performed so woefully in the run-up to the global financial crisis, one might have thought they would be discredited by now. One of the agencies’ biggest mistakes was their rampant mislabeling of residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs) in 2004-07. At the time, the rating agencies had few qualms about […]

June 10th, 2011 | Posted in Blog | Read More »

Conflicts of interest a big issue for banks

By Ian Fraser Published: Financial Times Date May 23rd, 2011 As Antonio Horta-Osório, chief executive of Lloyds Banking Group, weighs up whether or not to sell Scottish Widows Investment Partnership, the bank’s asset management arm, the consensus in the City is that he should plump for a sale. He is due to announce the decision […]

May 22nd, 2011 | Posted in Article Library,Latest Articles | Read More »

Taibbi: Goldman lied to investors and lied to Congress. So why isn’t it prosecuted?

May 17th, 2011   Matt Taibbi, the Rolling Stone journalist who famously dubbed Goldman Sachs a “great vampire squid” in a seminal article published in July 2009, recently wrote another about the New York-based investment bank (The People vs. Goldman Sachs). Writing on Clusterstock, Henry Blodget, co-founder and editor-in-chief of Business Insider, said this one is “potentially […]

May 17th, 2011 | Posted in Blog | Read More »

The People vs. Goldman Sachs

By: Matt Taibbi Published: Rolling Stone Date: May 26th, 2011 A Senate committee has laid out the evidence. Now the Justice Department should bring criminal charges They weren’t murderers or anything; they had merely stolen more money than most people can rationally conceive of, from their own customers, in a few blinks of an eye. […]

May 12th, 2011 | Posted in Article Library | Read More »

António Horta-Osório breaks banking’s mould

May 5th, 2011 In Lloyds bows to the law the Guardian’s financial editor Nils Pratley describes how the PPI misselling saga is likely to become a major turning point for Britain’s banks. The decision of Lloyds Banking Group’s new chief executive António Horta-Osório to set aside £3.2bn for compensating customers who were ripped off by HBOS and Lloyds TSB […]

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

Keiser: “Compared to Goldman boss Lloyd Blankfein, Bernie Madoff’s like Mother Theresa”

April 21st, 2011 In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the 635-page report prepared by Senator Carl Levin’s Senate Permanent Subcommittee on Investigations into the causes of the financial crisis, Anatomy of a Financial Collapse. Among other things the report alleges that New York-based investment bank Goldman Sachs, known as […]

April 21st, 2011 | Posted in Blog | Read More »