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Banking’s ‘Milly Dowler’ moment

June 29th, 2012 This is banking’s ‘Milly Dowler’ moment. Finally the blinkers are off and the rest of the world (by which I mean people like leading politicians and the mainstream commentariat) is waking up to the culture of self serving greed and corruption that has infested the UK’s banking sector, about which I’ve been […]

June 29th, 2012 | Posted in Blog | Read More »

Financial regulation: With Griffith-Jones’ appointment, Britain keeps it in the family

By Ian Fraser Published: Qfinance Date: June 18th, 2012 I was surprised and exasperated to learn last week that chancellor George Osborne has rubber-stamped the appointment of John Griffith-Jones, the senior partner of KPMG, as chairman-designate of the Financial Conduct Authority, one of the two financial regulators that will take over from the soon-to-be-disbanded FSA. As […]

June 18th, 2012 | Posted in Article Library,Blog | Read More »

FSA warned that transparency proposals for bank property portfolios will require £35bn

By Ian Fraser Published: Sunday Herald Date: May 13th, 2012 HUNDREDS of property firms could be pushed into bankruptcy if the Financial Services Authority pushes ahead with a new “slotting” regime that will force banks to be more transparent about the state of their commercial property loan books, according to property industry leaders. Banking and property […]

May 13th, 2012 | Posted in Article Library | Read More »

Swip slashes strategies and staff in drive for wealth

By: Ian Fraser Published: Financial Times Date: April 23rd, 2012 Ten days ago, Scottish Widows Investment Partnership was caught on the hop by a leak. Though not quite Watergate, an informant, assumed to be a disgruntled fund manager at risk of being collateral damage, had leaked news that the group’s equities business was being savagely restructured. […]

April 23rd, 2012 | Posted in Article Library | Read More »

RKCR/Y&R’s ‘With you all the way’: A crime against advertising?

March 13th, 2012 You couldn’t make this up. Given the shocking way in which Bank of Scotland treats its customers – and particularly how it and parent company Lloyds Banking Group have treated the former business customers whose lives and companies have been destroyed as a result of the bank’s £1 billion plus “Reading Fraud” of 2003-08 […]

March 13th, 2012 | Posted in Blog | Read More »

FSA bombshell changes everything for ex-HBOS directors Crosby, Stevenson and Cummings

March 10th, 2012 Yesterday was an extraordinary day in the world of banking. First we had confirmation from Barclays, Lloyds Banking Group and Royal Bank of Scotland that they are doling out obscene sums in bonuses to executives, even as performance flags and share prices plunge. Then we had the ridiculous saga of the IDSA determinations […]

March 10th, 2012 | Posted in Blog | Read More »

Revealed: the hornet and the sting which are stopping us learning the truth about the collapse of HBOS

By Ian Fraser Published: Sunday Herald Date: February 26th, 2012 Results released last Friday showed a sea of red ink engulfing the state-rescued Lloyds Banking Group. Trumpeted at the time of its September 2008 formation as the “bank for Britain”, the 41%-taxpayer owned business unveiled annual losses of £3.5 billion for 2011, nearly double those […]

February 28th, 2012 | Posted in Article Library | Read More »

Stephen Hester: “One of the issues we face is the UK economy is as flat as a pancake”

February 23rd, 2012 Stephen Hester was in combative form in his interview with Channel 4 News’ Jon Snow earlier this evening. He sought to defend the bank’s decision to pay a total of £985m in staff bonuses during 2011, despite mounting losses and scepticism it can be returned to the private sector within the original […]

February 23rd, 2012 | Posted in Blog | Read More »

Clydesdale’s claims to be a prudent lender ring hollow following NAB ‘review’

By Ian Fraser Published: Sunday Herald Date: February 12th, 2012 From the perspective of its head office in Melbourne’s Bourke Street, National Australia Bank’s UK subsidiaries Clydesdale Bank and Yorkshire Bank are looking increasingly like dead weights at the moment. The Australian economy, where the Victoria-based bank has the bulk of its operations, is booming and […]

February 12th, 2012 | Posted in Article Library | Read More »

Peter Cummings’ ‘Aladdin’s Cave’

January 31st, 2012 The man who destroyed the Bank of Scotland with a reckless and out-of-control corporate and real-estate lending spree is in the media again. Mortgage Strategy has an article (Living in the age of less reason) which touches on the “pig on pork” or integrated finance model favoured by Peter Cummings, who was […]

January 31st, 2012 | Posted in Blog | Read More »