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Stephen Hester: The great escape artist

By Ian Fraser Published: Sunday Herald Date: February 10th, 2013 It has been described as the biggest banking felony in history … yet no-one has been prosecuted for the Libor fixing scandal. Ian Fraser looks at the RBS sacrificial lambs.  [An edited version of this article was published on pages 34-35 the Sunday Herald on […]

February 10th, 2013 | Posted in Article Library | Read More »

What today’s Libor settlement says about Royal Bank of Scotland

February 6th, 2013 If this is the best he can do, Royal Bank of Scotland chief executive Stephen Hester should consider throwing in the towel and conceding what most people already know — that RBS, as it stands, is unmanageable and running an unsustainable business model. Hester (who remains in denial about the egregious wrongdoing […]

February 7th, 2013 | Posted in Blog | Read More »

How to deal with the Libor riggers

February 6th, 2013 Kevin Mason, a commenter on the Guardian website, had this to say about the £390 million settlement that Royal Bank of Scotland reached with the Commodities Futures Trading Commission, US Department of Justice and Financial Services Authority over rampant Libor-rigging today [Mason’s words sourced from Graeme Wearden’s excellent Libor rigging live blog published […]

February 6th, 2013 | Posted in Blog | Read More »

Something sinister about the lack of prosecutions at Lehman Brothers

January 24th, 2013 This is the first interview that Chicago lawyer Anton Valukas has given since the publication of his 2,292 page report into the bankrutpcy of Lehman Brothers on March 11th, 2010. At that time, Valukas found strong evidence of financial and accounting fraud designed to deceive investors at the defunct New York-based investment […]

January 24th, 2013 | Posted in Blog | Read More »

Yes Scotland’s crisis avoidance claim is just laughable

January 18th, 2013 (updated January 19th, 2013) Blair Jenkins, chief executive of the Yes Scotland campaign, today claimed that Scotland “might very well not have had a financial crisis” if it had been an independent country. This is a ridiculous claim which further undermines the credibility of the ‘Yes’ campaign, especially where business, finance and […]

January 19th, 2013 | Posted in Blog | Read More »

Dear Mr Cameron: Please explain why bankers are now considered above the law

December 15th, 2012 An open letter to David Cameron, the Prime Minister of the United Kingdom of Great Britain and Northern Ireland, from Mrs N Turner Dear Mr Cameron, I and many other people were stunned by the quotes from Mr Andrew Bailey, the chief executive-designate of the Prudential Regulation Authority, which were reported in the Daily Telegraph […]

December 15th, 2012 | Posted in Blog | Read More »

HBOS whistleblower hits back at Crosby claims

By Ian Fraser Published: Sunday Herald Date: December 9th, 2012 Paul Moore, the whistleblower whose evidence was key to last week’s hearings of the parliamentary commission on banking, has accused his former HBOS boss Sir James Crosby of “trying to rewrite history” about Moore’s sacking from the Edinburgh-based bank. In an interview with the Sunday Herald, Moore […]

December 11th, 2012 | Posted in Article Library | Read More »

Book review: Going for broke

By Ian Fraser Published: Scottish Review of Books Date November 17th, 2012 It was intended as a memorial to the Scots who died in the Napoleonic Wars. But it wasn’t long before the incomplete replica of the Parthenon on Calton Hill was labelled ‘Edinburgh’s disgrace’. This was because the so-called National Monument was left half-finished, with […]

November 17th, 2012 | Posted in Article Library | Read More »

Illusion of unassailability leads to fresh outbreak of ‘mad banker disease’

November 6th, 2012 By Gordon Neave Picture: The Economist During the late 1980s and early 1990s British bankers changed for the worse. Having spent most of the past three centuries as financial herbivores — solid, reliable and rational members of the community — they metamorphosed into wild, hungry carnivores. Fuelled by commissions, bonuses and greed, […]

November 6th, 2012 | Posted in Blog | Read More »

Have we really rebuilt the Royal Bank of Scotland?

By Ian Fraser Published: Sunday Herald Date: October 21st, 2012 Stephen Hester and Sir Philip Hampton may be in bullish mood, but is RBS as strong as they claim? By Ian Fraser (Image: The Sun) THE chairman and chief executive of Royal Bank of Scotland had something of a spring in their step last week. The […]

October 21st, 2012 | Posted in Article Library | Read More »