View Post

Stephen Hester just doesn’t get it

In Article Library by Ian Fraser0 Comments

By Ian Fraser Published: Daily Record Date: March 1st, 2013 Royal Bank of Scotland boss Stephen Hester was yesterday touring the television studios trying to convince us that he is absolutely determined to make RBS into a “really good bank” once again. The fox-hunting laird of Gogarburn also told us …

View Post

How to deal with the Libor riggers

In Blog by Ian Fraser0 Comments

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 …

View Post

Britain’s corporate failures invite a governance revolution

In Blog by Ian Fraser0 Comments

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 …

View Post

Book review: Going for broke

In Article Library by Ian Fraser0 Comments

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 …

View Post

Net closes on Royal Bank of Scotland’s property shenanigans

In Blog by Ian Fraser8 Comments

October 1st, 2012 (updated from July 6th, 2012) (revised October 8th, 2012) Today, Royal Bank of Scotland chief executive Stephen Hester used a speech at the London School of Economics to call for a new “compact” between banks and society. With his industry engulfed in scandal and widely despised by customers …

View Post

Written evidence to the Parliamentary Commission on Banking Standards

In Blog by Ian Fraser1 Comment

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 …

View Post

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 …

View Post

Benjamin Lawsky, we’re banking on you

In Blog by Ian Fraser0 Comments

August 11th, 2012 According to a Reuters report earlier, Standard Chartered is this weekend in talks with US regulators with a view to reaching a carefully choreographed settlement along similar lines to the “sweetheart” deal that Barclays reached with the US department of justice for similar Iran-related criminality in August 2010. …