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Was Mallett thrown to the wolves to save BoE’s skin?

Photo: Andrew Winning/Reuters

November 12th, 2014 Guest Post by Rowan Bosworth-Davies One of the major unexplained elements in the foreign exchange (forex) rigging case is the level of knowledge of manipulative activity possessed by the Bank of England. If it, as a leading market participant and a regulator, had prior knowledge that the forex markets were being manipulated, or […]

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

Guest post: How Britain’s banks profit from distress

Bank logos. Image courtesy of Andy Hanselman

By James Nicholls October 23rd, 2013 Banks are in the business of making money – just like every other business – and they do this by providing bank accounts and lending money at a profit. So far so ordinary. They lend to individuals and businesses and most of the time this all goes well, in […]

October 23rd, 2013 | Posted in Blog | Read More »

The Parliamentary Review: Review of the Year in Finance

Image: William Banzai 7

By Ian Fraser Published: The Parliamentary Review Date: September 30th, 2013 The Libor scandal It was described as the banking industry’s ‘tobacco moment’. In June last year, Barclays was fined £290 million by US and UK regulators and judicial authorities after it admitted to systematically rigging the London Inter-Bank Offered Rate (Libor). Libor is the […]

September 30th, 2013 | Posted in Article Library | Read More »

HSBC still laundering money for terrorist groups, says whistleblower Everett Stern

everett stern

September 18th, 2013 In the video interview above, former HSBC anti-money laundering compliance officer, Everett Stern, frankly describes the criminal methods used by HSBC to launder money for terrorist groups including Hamas and Hezbollah as well as for drug cartels and other criminals. Although the bank paid a $1.9 billion penalty as part of a record-breaking money laundering […]

September 18th, 2013 | Posted in Blog | Read More »

HSBC’s drugs money laundering settlement a mockery of justice, says Warren

Elizabeth Warren

March 7th, 2013 Senator Elizabeth Warren (Democrat-Massachusetts), has once again revealed the dangerous double standards at the heart of the US justice system. Appearing at the Senate Banking Committee, the former Harvard law professor questioned officials from the US Treasury Department and US Federal Reserve over why criminal charges were not pressed on HSBC or […]

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

HSBC’s $1.9bn settlement sets (another) dangerous precedent

HSBC - the laundry

December 15th, 2012 Image: WilliamBanzai7 The ‘settlements’ that London-headquartered banks HSBC and Standard Chartered have reached with the US authorities over serious criminal offences — including sanctions-busting and aiding and abetting terrorism and the global drug trade — are a travesty of justice. Even The Economist, a publication of which I am not usually fan, had […]

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

Britain’s corporate failures invite a governance revolution

Bonds, Rigged Bonds

November 18th, 2012 Image: WilliamBanzai7 The bigwigs of the City of London, corporate governance ‘gurus’ in asset-management firms and leading figures from FTSE-100 companies have a penchant for patting themselves on the back over the brilliance of the corporate governance framework they have erected over the past two decades. The UK Corporate Governance Code (formerly the Combined Code of […]

November 18th, 2012 | Posted in Blog | Read More »

Prem Sikka: Without proper curbs on predatory capitalism, recovery will elude us

FSA

October 8th, 2012 Despite a banking and financial crisis of near biblical proportions in 2007-09, which saw the collapse and state-funded rescue of many of Britain’s banks, the country’s regulators have singularly failed to get to the bottom of what happened. The way in which the Financial Services Authority has sought to close the book […]

October 8th, 2012 | Posted in Blog | Read More »

Dear David Cameron: Entrusting economic policy to ex-investment bankers is no solution

Paul Deighton

September 7th, 2012 When David Cameron reshuffled his cabinet earlier this week, the arrival of a trio City of London bankers and consultants at Her Majesty’s Treasury went almost unnoticed. This in my view was a lacuna. The three men are Paul Deighton, a former Goldman Sachs partner and chief operating officer for Europe (pictured above), Sajid […]

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

Resolving the banking crisis will require radical surgery and quiet determination

Standard Chartered Bank - pirate bankers

By Ian Fraser Published: Sunday Herald Date: August 12th, 2012 STANDARD Chartered, the London-headquartered bank that does most of its business in Asia, was – until the beginning of last week – the last good bank standing. It was one of the select band of banks to characterise themselves as a cut above the rest, having […]

August 12th, 2012 | Posted in Latest Articles | Read More »

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