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Yes Scotland’s crisis avoidance claim is just laughable

In Blog by Ian Fraser0 Comments

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, …

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HBOS whistleblower hits back at Crosby claims

In Article Library by Ian Fraser0 Comments

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 …

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Book review: Going for broke

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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 …

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FSA plays dangerous game with relaxation of capital rules

In Blog by Ian Fraser0 Comments

October 10th, 2012 Today the Financial Services Authority formally relaxed capital and liquidity rules on UK banks in the vague hope this might kickstart lending and do something to ensure the UK economy can pick itself up off the floor. The Canary Wharf-based regulator also said that it would not …

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Campaign to clean up ‘rip off’ fund managers

In Article Library by Ian Fraser1 Comment

By Ian Fraser Published: Sunday Herald Date: September 30th, 2012 Fund managers are ripping off their customers through a minefield of hidden charges, misleading advertising, and obfuscation over performance, according the founders of new campaign aimed at ensuring investors get a fairer deal. Alan and Gina Miller – a husband …

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Written evidence to the Parliamentary Commission on Banking Standards

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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 …

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It’s time the FSA learnt the lessons of Hillsborough. Eventually the truth will out

In Blog by Ian Fraser2 Comments

17 September 2012 (Updated 11.25am) Studiously ignoring the roles of “establishment” figures like Sir James Crosby and Lord Stevenson in the demise of disastrous Edinburgh-based bank HBOS, regulator the Financial Services Authority is seeking to heap all the ordure on the less establishment Peter Cummings. I am not suggesting that Cummings is …

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Martin Wheatley: Elements of UK banking culture “rotten to the core”

In Blog by Ian Fraser2 Comments

September 7th, 2012 The managing director of the Financial Services Authority, Martin Wheatley, has launched a stinging attack on ‘mis-selling’ of financial products by banks, building societies and other financial institutions to their retail customers, even describing the incentive schemes that underpinned the ‘misselling’ of payment protection insurance (PPI) as …

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Britain ignores this epidemic of financial crime at its peril

In Blog by Ian Fraser3 Comments

August 1st, 2012 (minor revisions September 4th 2012) by Rowan Bosworth-Davies The most prestigious names in the British banking and finance routinely engage in criminal activities on a scale that would make any Mafia family proud. Whether it’s by facilitating international money-laundering; manipulating markets through Libor rigging; institutionalised insider dealing; misappropriating …