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Shredded Tweets

July 7th, 2014 Here is a selection of tweets about Shredded: Inside RBS The Bank That Broke Britain which was published by Birlinn Books on 6 June (a few other Shredded Tweets are posted here). I’d like to thank all the senders of these messages for buying the book, reading it, and for their positive feedback. It’s heartening […]

July 7th, 2014 | Posted in Blog | Read More »

RBS forced to recognize it’s not above the law after losing software dispute

May 12th, 2014 Royal Bank of Scotland is, once again, discovering that it is unable to operate above the law. On Friday, a U.S. judge ordered the Edinburgh-based bank to stop using a software program that underpins its trade finance division, after finding the bank had been infringing the system’s copyright for six years. U.S. District […]

May 12th, 2014 | Posted in Blog | Read More »

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

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

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?

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?

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

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

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

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

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 »