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Idea banks can be trusted to police themselves ‘one of most dangerous of modern times’

RBS Lloyds

October 20th, 2012 (updated October 31st, 2012) On January 1st, 2008, some bright sparks at the FSA decided it was appropriate to grant Advanced Internal Ratings Based (AIRB) status to both Royal Bank of Scotland and HBOS. In doing so, the Canary Wharf-based regulator was effectively giving the two Edinburgh-headquartered banks carte blanche to calculate the […]

October 27th, 2012 | Posted in Blog | Read More »

Let’s emancipate ourselves from financial slavery

Bob Marley

August 7th, 2012 By Paul Moore Ian Fraser’s introduction: Paul Moore, the ‘HBOS whistleblower’, has launched a new organisation, the New Wilberforce Alliance, which aims to free the world from the modern-day slavery caused by the financialisation of our culture that took root in the 1980s. Here, Moore explains how the recent revelations of rampant […]

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

To resolve the Libor scandal, we must decide. Do we want to save banks, or our societies?

Bankers Canary Wharf Crime Scene

August 1st, 2012 Raúl Ilargi Meijer, editor-in-chief of The Automatic Earth, wrote three weeks ago that Libor rigging was a criminal conspiracy from the start. Here he provides an update which summarizes how collusion between large banks and central banks/regulators allowed the rate-rigging scandal to continue unchecked, at the expense of society and the real economy, […]

August 1st, 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 »

CBI and Barclays still ensnared by the delusion of performance-related pay

Barclays protest

By Ian Fraser Published: QFINANCE Date: April 27th, 2012 The debate over executive pay is turning ugly. In the UK, investor disquiet about the unwarranted rewards routinely doled out to bankers despite weak and unethically achieved performance is reaching boiling point. It could well explode at the Barclays AGM in London’s Royal Festival Hall which […]

April 27th, 2012 | Posted in Article Library,Blog | Read More »

Fear and loathing in City of London as Barnier taps consumer power

Michel Barnier. Image courtesy of Le Point

By Ian Fraser Published: QFINANCE Date: April 4th, 2012 Michel Barnier is viewed with a mixture of fear and loathing in the City of London. In the Square Mile the Frenchman is variously regarded as a bogeyman, a champion of dirigisme, and even as the ringleader of a sinister Franco-German plot to undermine London’s position and ensure […]

April 4th, 2012 | Posted in Article Library,Blog | Read More »

The time is now. Why we need a proper, independent Public Inquiry into UK banks

Lord Justice Leveson

March 18th, 2012 Demands for a Leveson-style public inquiry into the UK’s dysfunctional banking sector are reaching a crescendo following the FSA’s partial whitewash of the RBS collapse, a cover-up of events surrounding the Bradford & Bingley rights issue, doubts about the regulator’s commitment to getting to the bottom of what happened at HBOS and much establishment […]

March 19th, 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 »

Are hedge funds and private equity funds fleecing their investors?

Warren Buffett Yukelele

By Ian Fraser Published: QFINANCE Date: February 1st, 2012 The Berkshire Hathaway chairman Warren Buffett (pictured above playing the ukelele) once famously quipped that a hedge fund is a “compensation scheme masquerading as an asset class”. The remark, a reference to the fact that many hedge funds provide investors with feeble returns whilst massively enriching intermediaries (the hedge fund […]

February 2nd, 2012 | Posted in Article Library,Blog | Read More »

Massed burial of heads in the Davos snow

Occupy Davos

January 26th, 2012 Apparently the topic on everyone’s lips at the World Economic Forum in the Swiss alpine resort of Davos this year is income inequality and how to reduce it. Does the global corporate elite not realise there is a fairly obvious solution, and it’s staring them in the face? As a starting point […]

January 26th, 2012 | Posted in Blog | Read More »

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