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“Banks are now in permanent role of looters”

In Blog by Ian Fraser2 Comments

15 September 2010 Today I chanced upon the financial blogging site Naked Capitalism and a piece in which Yves Smith accuses banks of attempting to call the politicians’ bluff over Basel III. Smith, author of Econned: How unenlightened self-interest undermined democracy and corrupted capitalism and who formerly worked at Goldman Sachs, McKinsey & …

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God’s banker on greed, globalisation and Goodwin

In Blog by Ian Fraser0 Comments

28 June 2009 Stephen Green, chairman of HSBC, recently had lunch with Lionel Barber, editor of the Financial Times, in the Pont de la Tour restaurant overlooking the Thames — and Barber has written an account of the repast in the Weekend FT. Green, who was ordained as an Anglican …

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“Bling” Crosby’s day of reckoning

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Sunday Herald Date: 15 February 2009 This charade of apology is a diversion from bankers’ role in financial destruction EDITH Piaf’s “Non, Je Ne Regrette Rien” seems to be the theme tune for Britain’s banking fraternity right now. The unfab four – Lord Stevenson, Andy Hornby, …

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The end of laissez-faire

In Article Library by Ian Fraser4 Comments

By: Ian Fraser Published: Sunday Herald Date: 4 January 2009 REGULATION: The cataclysmic events in the financial world have turned the tide against faith in the self-correcting power of the markets. A special report by Ian Fraser. ROLLING BACK the frontiers of state through privatisation and deregulation, a process kicked …

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This blog is One and other stuff

In Blog by Ian Fraser2 Comments

7 July 2008 Dear Reader, This blog is now one year old. It’s been enormous fun writing the 58 entries to date — just over one a week — over the past 12 months and thank you for all the feedback received so far. Since I started this exercise on …

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Goodwin hunting

In Article Library by Ian Fraser1 Comment

By Ian Fraser Published: Sunday Herald Date: 30 December 2007 Businessperson of the Year: Sir Fred Goodwin THE €71 billion (£49bn) takeover of Dutch bank ABN Amro was a coup that has left little room for doubt. Sir Fred Goodwin, the 49-year-old chief executive of Royal Bank of Scotland (RBS) …

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Fred’s gamble

In Blog by Ian Fraser0 Comments

3 October 2007 Sir Fred Goodwin, the chief executive of Royal Bank of Scotland, has been accused of being “unhinged” in a blog published on FT Alphaville on October 1st, headlined The sobering message of RBS’s sky-high ABN bid. Their correspondent Lina Saigol has calculated that Sir Fred and his …