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Holyrood candidate Kit Fraser bares all (nearly) outside RBS AGM

Kit Fraser, who is standing for the Scottish Parliament

April 19th, 2011 I actually missed this. I was already inside the Royal Bank of Scotland annual general meeting when Kit Fraser (no relation), who is standing for election to the Scottish Parliament for the Ban Bankers’ Bonuses Party, stripped to his boxer shorts outside the entrance to the RBS conference centre. It is all part […]

April 19th, 2011 | Posted in Blog | Read More »

Glencore: Floating a company subject to allegations of tax abuse is not good news

April 15th, 2011 By Richard Murphy Glencore International, the world’s largest commodity trader, is to be floated on the stock exchange. The markets are going wild. Another Swiss recluse brings their shares to the market. Glencore is, as the Guardian reports, subject to a complaint from five NGOs that have filed a complaint to the Organisation for […]

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

Fair Pensions exposes conflicts at heart of pensions management and calls for radical reform

April 15th, 2011 FairPensions has produced an excellent, in-depth report which lifts the lid on the conflicts of interest at the heart of pensions management and calls on institutional investors to shape up their act by adopting what it calls an “enlightened fiduciary” model. Under the FairPensions proposals, launched at an event attended by government […]

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

The horse has bolted, but at least the Lords have started to clean out accountancy’s Augean stables

March 30th, 2011 Here is Lord MacGregor, a former Conservative chief secretary of the Treasury, unveiling the hard-hitting and long-awaited conclusions of the House of Lords Economic Affairs Committee’s report into audit profession. This is an inquiry I’ve been following with great interest and which I’ve written on Qfinance (Scrap mark-to-market accounting or face further […]

March 30th, 2011 | Posted in Blog | Read More »

Cogent King makes case for radical bank reform

March 8th, 2011 It’s virtually unheard for the governor of a central bank to launch an outspoken attack on the integrity and purpose of his country’s banking sector. But this is what the Bank of England governor Mervyn King did last weekend. In an interview with former Telegraph editor Charles Moore, King, whose central bank […]

March 8th, 2011 | Posted in Blog | Read More »

Why the Oscar for ‘Inside Job’ is a sort of turning point

February 28th, 2011 Charles Ferguson’s movie about the financial crisis, Inside Job, released in the US in October 2010, richly deserved to win ‘Best Documentary’ at last night’s Oscars. Amid all the flimflam about actresses’ dresses and the other flaky stuff one’s subjected to around Oscars’ time, the Academy Award for Inside Job is an […]

February 28th, 2011 | Posted in Blog | Read More »

Black: “Our financial institutions are being run by sociopaths”

January 24th, 2011 As I’ve said before, William K Black, professor of economics and law at the University of Missouri, and the senior regulator during the US Savings and Loan crisis is, one of the sharpest commentators on the causes of the global financial crisis. In this interview with The Real News Network, Black says […]

January 24th, 2011 | Posted in Blog | Read More »

Diamond in La-La Land

January 12th, 2011 This morning’s “grilling” of Barclays’ new chief executive, Bob Diamond, was a wholly unsatisfactory affair. A light sautée-ing would be a more accurate description. The MPs on the Treasury Select Committee were reasonably adept at grand-standing over contentious banking issues such as excessive bonuses, lack of pay transparency, recklessness, tax avoidance, implicit government […]

January 11th, 2011 | Posted in Blog | Read More »

Charles Ferguson: The securitization food chain

January 10th, 2011 Charles Ferguson, director of the seminal movie about the global financial crisis, Inside Job, has warned that we should continue to feel a profound sense of unease about banks and financial institutions — and by extension about all our economic and political futures. In a lecture at Massachusetts Institute of Technology on […]

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

RBS executives seem to think they’re above the law

December 16th, 2010 (minor updates December, 16th 2013) As they scramble to shore up their balance sheets, Britain’s banks are treating some of their corporate and small and medium-sized business customers with barely disguised contempt. A tactic sometimes used once they’ve reneged on pre-crisis lending agreements and decided to recover what they can from a customer is […]

December 16th, 2010 | Posted in Blog | Read More »