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Guest post: The parable of the bailouts

Balloon Horse

October 18th, 2012 By Tom Nicol ‘Then the flying machines started falling from the sky.’ Once upon a time in the Westerlands, people became aware of a developing phenomenon: flying machines were falling from the sky with a great deal more regularity than was previously the case. Understandably, the people became uneasy and started to […]

October 18th, 2012 | Posted in Blog | Read More »

Written evidence to the Parliamentary Commission on Banking Standards

Portcullis logo

Parliamentary Commission on Banking Standards Submission from Ian Fraser, 24 August 2012 [Update: January 12, 2013. This is my submission to the Parliamentary Commission on Banking Standards, which is being chaired by Andrew Tyrie MP. Written in August 2012, it was published on the Parliamentary website [pdf 28mb] on December 19th, 2012 — it can be found on […]

September 21st, 2012 | Posted in Blog | Read More »

Bremner, Bird & Fortune: Where did all the money go?

Bremner, Bird & Fortune

September 18th, 2012 A satirical look at the banking and financial crisis from Bremner, Bird & Fortune. This is part one of a four-part series first broadcast on the UK’s Channel 4 in November 2008.

September 18th, 2012 | Posted in Blog | Read More »

Guest Post: The Libor crime scene will soon be expanded

Police Notice - Libor reference banks

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 and services seen from mid-1970s […]

July 16th, 2012 | Posted in Blog | Read More »

Do big banks need to worry about being found out over Libor?

Bob Diamond leaves Portcullis House

July 8th, 2012 The eventual outcome of the global Libor rigging scandal is impossible to call at this stage. There is a body of opinion that it might end up being a storm in a teacup (sounds familiar?), given that regulators and courts might end up stuggling to establish who got scammed and the true […]

July 8th, 2012 | Posted in Blog | Read More »

You’re telling me that Ben Bernanke is full of s**t? How securitizations work

Xtranormal

June 29th, 2012 I just love this one. Apologies in advance to the sensitive, in case you’re offended by the repeated use of a certain word. It was made using Xtranormal h/t Anat Admati, professor of finance and economics Stanford Graduate School of Business. Follow Anat on twitter

June 29th, 2012 | Posted in Blog | Read More »

Everyone in finance should read David Bermingham’s “A Price To Pay”

Nat West Three - Bermingham, Darby, Mulgrew

By Rowan Bosworth-Davies White-collar crime, and particularly fraud and wrong-doing in the City of London, has been ignored by regulators and the judiciary for too long. The global financial crisis has highlighted how, if left unchecked it can cause almost incalculable damage to ordinary people’s lives and the wider economy. The biggest disincentive to City […]

May 19th, 2012 | Posted in Blog | Read More »

John Kay on the illusory nature of bank profits

John Kay

April 16th, 2012 In this speech the economist and author John Kay examined how the financial sector continues to make — or claims to make — returns-on-equity which are way in excess of any reasonable estimate of cost of capital. Kay, a visiting professor at London School of Economics, examined various possible reasons but then focused on […]

April 16th, 2012 | Posted in Blog | Read More »

Neo-classical economics led us into a cul-de-sac. Now we must find a way out

Hall of the Giants, North Wall, Palazzo del Te

By Ian Fraser Published: QFINANCE Date: March 9th, 2012 The “Washington Consensus” ought to have been consigned to the scrapheap of history by now. The consensus – also known as neo-classical economics – supported global macroeconomic policy including financial (de)regulation and central bank policy, for most of the past three decades. But the Panglossian assumptions about financial […]

March 9th, 2012 | Posted in Article Library,Blog | Read More »

The Economist loses the plot with this shallow, pro-City propaganda

Economist Save The City 6 Dec 2011

January 7th, 2012 I was surprised and disappointed when I opened my copy of The Economist on Friday morning. The magazine is running a feebly-argued propaganda piece headlined “Save the City” as its cover story. The piece vaunts the “skills” that are to be found in the City of London and seeks to persuade us […]

January 7th, 2012 | Posted in Blog | Read More »

Fraser on Twitter

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